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Italy, France call for cohesive measures to tackle eurozone crisis

06-06-2012 01:38 BJT

ROME, June 5 (Xinhua) -- French Foreign Minister Laurent Fabius on Tuesday said the international community needs to find cohesive measures to tackle the financial crisis rather than blame each other for the problems.

"It does not seem to me that the crisis was born in Europe. Lehman Brothers was neither an Italian nor a French bank," Fabius said during a joint press conference after meeting his Italian counterpart Giulio Terzi in Rome.

"It makes no sense to shift responsibility to each other," he added, alluding to U.S. President Barack Obama who on Saturday said the European crisis was causing trouble for the United States.

"The worries of the United States had already been clarified at the Camp David summit," Terzi said.

The Italian minister added the size of the financial crisis on two sides of the Atlantic is "so complex that raises shared worries not only in Washington but also in all the European capitals."

He added that trying to pick out the origin of a crisis is counterproductive in today's globally connected world.

Terzi said it is fundamental to urgently act in "coordinated and incisive way" adopting measures able to support growth and employment, and foster "better governance" at the EU level.

Fabius highlighted the necessity for the international community to "proceed in a cohesive way" to find a solution to the debt crisis.

In his view, both Europe and the United States should make budget and growth efforts. "The United States has an important role in the global economy, and so does the European Union, which is the first commercial area in the world. We are all in the same boat," he said.

"A practical method" should be found to help the Spanish banking system that is faced with considerable difficulty and should function without increasing the deficit, which would raise borrowing costs," the French minister said.

"The European system as a whole has to find a solution to avoid suffocation," Fabius said.

Regarding relations between Italy and France, he noted "there might have been some shadows in the past but now the problems have been solved."

"There are now the elements for exemplary joint work to achieve concrete results, and we will have a big number of opportunities to work together," Fabius said.

Editor:Zhang Jianfeng |Source: Xinhua

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