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Stability is the foundation for growth and jobs, says President Barroso on visit to Austria

Austrian Chancellor Werner Faymann and Jose Manuel Barroso

The need to reinforce stability and build confidence in the EU, particularly following the agreement on Cyprus, was the major topic of the day when President Barroso met Austrian Chancellor Faymann in Vienna.

"I think we can say that both of us agree that the European Union is acting with determination on several fronts to allow confidence to come back and to reinforce stability. Stability that is also important for growth. Our most important concern is growth and jobs and we agree that without financial stability this cannot be achieved", said President Barroso following his meeting with Chancellor Faymann.

President Barroso was also received by President Fischer and the Vice-Chancellor Spindelegger.

President Barroso later highlighted the importance of the Banking Union for financial stability.
"We are now establishing a Banking Union and an Economic and Monetary Union architecture that, hopefully, will prevent us to have some kind of crisis like the one we have been experiencing - like the one in Cyprus", he said, adding that the agreement on Cyprus "ended more than a year of uncertainty".

Regarding the fight against youth unemployment, President Barroso thanked Austria for supporting the Commission's proposals on the Europe-wide youth guarantee and the Youth Employment Initiative, and commended the successful Austrian model in coping with the social consequences of the crisis.

"Once again, I want to congratulate Austrian Chancellor Faymann for the very good results in terms of the fight against unemployment. Your experience deserves great attention from all over Europe", said President Barroso.

On Thursday, President Barroso also attended the spring conference of Opera Europa – RESEO. In his speech on culture as the cement that binds Europe together, he stressed that at this present time of deep crisis, the EU needs culture more than ever.

"Never has there been a greater need for us to take good care of our economy that we define as a social market economy, a model that we must modernise in order to better preserve it, to take care of it. And that means also support for the cultural activities that generate new ideas, innovation and social cohesion. That is why the European Commission believes that, even at these difficult times of budget constraints, Europe must not hesitate to invest in culture, a growth sector for new jobs, jobs with a future".

Statement by President Barroso following his meeting with Mr Werner Faymann, Austrian Federal Chancellor

Speech by President Barroso: "Culture: the cement that binds Europe together"

Watch video from the visit