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Radičová reports on Sunday’s meeting of eurozone leaders

European leaders excluded opening the Lisbon Treaty as one of the ways to solve the debt crisis because currently there is no political will to take this step, the TASR newswire reported.

European leaders excluded opening the Lisbon Treaty as one of the ways to solve the debt crisis because currently there is no political will to take this step, the TASR newswire reported.

“At the moment nobody counts with changes [to the Lisbon Treaty],” said Slovakia’s Prime Minister Iveta Radičová, as quoted by TASR, on her way home from the summit of the eurozone leaders that was held on Sunday, October 23.

Radičová added that the European political leaders were attempting to find a way to solve the critical situation in Greece through fulfilling their promises and passing necessary reforms.

“The discussion was about finding solutions that would last longer than only two weeks,” Radičová said, as quoted by TASR, adding that one of the possibilities was regulated bankruptcy, which would smooth the negative effects of the crisis on the financial sector.

The Slovak Prime Minister stressed that more than half of the Greek debt should be written off. During the summit she also pointed out that the summit was also about making a decision whether the countries will pay for resolving the current critical situation in the eurozone through higher inflation or more unemployment.

“The situation is very serious,” Radičová said, as quoted by TASR. “I do not want to exaggerate, but within a few days, maybe weeks, if a radical decision is not made, certain states may not be on the map of Europe anymore, while others will be coping with serious economic problems.”

Source: TASR

Compiled by Radka Minarechová from press reports
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