Financial crisis tops talks at presidents' meeting in Finland

Feb 11, 2012, 12:38 GMT

Helsinki - The financial crisis in Europe topped discussions when presidents from eight European countries capped a two-day meeting in Helsinki on Saturday.

The so-called Arraiolos Group - which brings together heads of state with non-executive powers from Austria, Finland, Germany, Hungary, Italy, Latvia, Portugal and Slovenia - also discussed how to combat intolerance and xenophobia, Finnish President Tarja Halonen said.

There appeared to be 'no better alternative' to the austerity package that the parliament of Greece was scheduled to vote on Sunday, German President Christian Wulff said at a news conference.

Anibal Cavaco Silva, president of Portugal, where the first informal meeting of the presidents was held in 2003, said a solution to the debt crisis was the key.

'It is very important that the eurozone get rid of the word crisis as soon as possible, so that the European Union can give visibility to some other important issues,' he said, mentioning efforts to tackle climate change and global trade talks within the Doha Round.

Italian President Giorgio Napolitano said the austerity measures facing his country meant 'heavy sacrifices,' but there was no alternative. He also said there was a need for 'a spirit of solidarity' between countries that were doing financially better and those in more difficulties.

Poland, whose president did not attend this year's talks, is to host the 2013 meeting, while the 2014 event will take place in Portugal, Halonen said. Her successor as Finnish president, Sauli Niinisto, who formally assumes office March 1, also attended Friday's dinner.