Bloomberg News

Fekter Sees Need to ‘Discipline’ Euro Countries ‘Not on Track’

December 01, 2011

Dec. 1 (Bloomberg) -- Austria’s Finance Minister Maria Fekter said that euro-zone countries that aren’t “on track” regarding deficit reduction will need to be “disciplined.”

“All the countries have to do their homework on deficits spending and debt reduction” to make the euro area “more stable,” Fekter said in a Bloomberg Television interview in Brussels yesterday. “We have to discipline those who are not really on track” and don’t comply with “the rules on which we have decided,” she said.

“All those who have deficit of about 80 percent of gross domestic product have to do their homework and even those who have no structural GDP growth” have to make an effort, said Fekter, who has been Austria’s finance minister since April. “Growth and debt reduction” are the “key of stabilization,” she said.

--Editor: Zoe Schneeweiss

To contact the reporter on this story: Nejra Cehic in London at ncehic@bloomberg.net

To contact the editor responsible for this story: Anastasia Ellis at aclubb@bloomberg.net


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