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Austria Chancellor: Finance Mins To Discuss Firewall March 20

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BRUSSELS -(Dow Jones)- Further discussion on the euro zone's firewall will take place on March 20, Austrian Chancellor Werner Faymann said Friday, stressing the importance of getting it in place quickly.

"We need to have the discussion about running the EFSF and ESM together, the IMF contribution, and the private sector contribution," Faymann told reporters after a summit here. "Finance ministers will look into this for March 20."

There is also a need to discuss implementing the debt brake in national law with domestic coalition partners, he added.

Faymann said EU leaders hadn't discussed Spain's budget, and that they only had a brief talk about Bulgaria and Romania joining the passport-free Schengen area, which will now be decided on in September.

Fayman, of the social democratic party, said if Francois Hollande becomes French President, they would seek to persuade him to support the EU's fiscal pact, which he has spoken out against.

"It's up to the people to choose," he said. "If there is a change in France we would try to convince Hollande of the strengths of the fiscal pact."

 

-By Frances Robinson, Dow Jones Newswires; +32 2 741 1486; frances.robinson@dowjones.com

 

(END) Dow Jones Newswires

March 02, 2012 07:05 ET (12:05 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

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