Austrian president reiterates position on European single currency

Austrian President Heinz Fischer warned Wednesday that the rejection of the euro or even the renunciation of the European Union (EU) certainly would not be a good solution, Austrian Broadcasting ORF reported Wednesday. "For Austria, this would cost much more and aggravate the crisis. The future of the country continues to lie on an efficient, solidary and common Europe," he was quoted as saying. He was confident that the current debt crisis in the EU was solvable with the assumption of quick, energetic and farsighted actions. But he also admitted that the introduction of preventive measures for the euro crisis hadn't been put at sufficient scale. Concerning the burdens caused by the crisis to the Austrian public, the president insisted on a just distribution.