"Eurozone will do everything to save euro"

Seventeen countries of the eurozone will do everything to save the euro as the currency of the zone and the EU, economist Dragan Đuričin has stated.

Izvor: Tanjug

Wednesday, 04.01.2012.

13:57

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Seventeen countries of the eurozone will do everything to save the euro as the currency of the zone and the EU, economist Dragan Djuricin has stated. A fiscal union and the government as the ultimate guarantee for transactions are a better solution for coping with the crisis than a European central bank, he believes. "Eurozone will do everything to save euro" Djuricin, who is a professor at the Belgrade Faculty of Economics, explained that a fiscal union meant that Europe had recognized the debt and would gradually pay it, but that the fiscal burden on companies in the eurozone will also be increased because of new and higher taxes. "It is perhaps an opportunity for Serbia, because if it brings order into its legal system and puts more energy into some important investments in infrastructure, energy and agriculture, there would be a chance for production in the eurozone to move to Serbia under pressure from the new fiscal burden," he stated. "That might pose an opportunity for us to go from being handicapped to having an advantage, but a lot needs to be done," Djuricin concluded. Tanjug

"Eurozone will do everything to save euro"

Đuričin, who is a professor at the Belgrade Faculty of Economics, explained that a fiscal union meant that Europe had recognized the debt and would gradually pay it, but that the fiscal burden on companies in the eurozone will also be increased because of new and higher taxes.

"It is perhaps an opportunity for Serbia, because if it brings order into its legal system and puts more energy into some important investments in infrastructure, energy and agriculture, there would be a chance for production in the eurozone to move to Serbia under pressure from the new fiscal burden," he stated.

"That might pose an opportunity for us to go from being handicapped to having an advantage, but a lot needs to be done," Đuričin concluded.

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