Austrian Chancellor Werner Faymann and his Italian counterpart Enrico Letta concluded at today’s meeting in Vienna that the fight against unemployment is a priority in the European Union, agencies report.
The two prime ministers believe that funds previously used for bank bailouts should be redirected towards development, research, education, and infrastructure projects, APA reports. Letta announced that the fight against unemployment, particularly among young people, will be the focus of the Italian presidency of the Union in the second half of 2014. Economic recovery in Europe will also be one of the priorities, Letta stated. To achieve this goal, a European banking union will be necessary, Letta said, as this would allow funds intended for bank recovery to be redirected into investments and economic revitalization. The two prime ministers also emphasized the good relations between Rome and Vienna, Ansa reports, adding that the two countries share the same stance on the need for EU expansion to the Western Balkans.
