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Eurozone needs stabilization mechanisms against potential shocks: Slovak FinMin

Xinhua, October 19, 2016 Adjust font size:

The eurozone needs mechanisms to dampen down potential shocks, Slovak Finance Minister Peter Kazimir said Tuesday.

Addressing an inter-parliamentary conference on stability, economic coordination and governance in the European Union here, he said: "These tools should include a unified European unemployment insurance and a joint investment program. We know that if we fail to complete work on the eurozone, problems will return to us."

"We're already successfully resolving some of them. For example, by forming a banking union, but stabilization mechanisms are still lacking," he added.

Kazimir stated that Slovakia welcomed an initiative by the European Commission's new management in the form of the so-called Juncker Plan, based on which the European Fund for Strategic Investment (EFSI) emerged.

The event was held under the aegis of the Slovak Presidency of the Council of the European Union. Enditem