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Australia says eurozone action more urgent than ever

Published Updated

julia-gillard_NUSA DUA: Australian Prime Minister Julia Gillard on Friday said the need to act on the eurozone crisis has become more urgent, and called on Italy and Greece to accept rescue packages.

"The need to act on the eurozone crisis has become more urgent, not less since the G20 (conference earlier this month) in France," Gillard told an Asian investment conference on Indonesia's Bali island.

"We look to Europe for a swift and decisive response to problems of high debt and low growth facing the eurozone," she said ahead of the 16-nation East Asia summit.

Gillard said that new political leadership in Greece and Italy, whose prime ministers resigned in response to the crisis, "offers the eurozone a further opportunity for the response the world needs to see".

"We urge them to seize this opportunity and implement the October 27 package in full," she added, referring to an emergency financing package agreed for Greece by eurozone governments, private investors and the International Monetary Fund.

Copyright AFP (Agence France-Presse), 2011

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