The cutback of the share of government in the Austrian economy is appropriate and in line with international endeavors to improve the quality of public finances. The tax cuts should be accompanied one for one by expenditure cuts so as to ensure that a balanced budget is achieved over the cycle. Where do Central and Eastern European countries enter this picture?
It is my conviction that this historic reunification of Europe will mutually strengthen today's accession countries and the EU. Having said this, challenging tasks lie ahead. First and foremost, we will have to provide stability in a broad sense: political stability, macroeconomic stability, financial market stability and price stability. The framework which is in place provides for such broadly based stability.