Austria determined to stay in Eurozone

Austrian leaders Monday reaffirmed the central European nation's determination to stay in the Eurozone, citing "undisputed" benefits from the single currency of the European Union.

Chancellor Werner Faymann said it was undisputed that the euro has been very supportive to Austria.

"We have every reason to say that we have benefited from the Eurozone," he told a news conference after a government meeting.

Vice Chancellor Michael Spindelegger said the EU's single currency only encountered problems in a few countries and its role should not be doubted.

Describing the euro as "the most stable currency of the world," National Bank Governor Ewald Nowotny said for a small country like Austria, it is particularly important to be part of a large currency union, and Austria is one of the biggest winners of the common currency.

Bernard Felderer, a well-known Austrian financial analyst, said that Austria has always benefited from the internationalization and exit from the Eurozone would be a disaster for the country.

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