Austria's president: Austrian banks' credit lines will remain standing in Romania

President of Austria, Heinz Fischer said at the end of talks with his Romanian counterpart, Traian Basescu, that the credit lines of Romanian subsidiaries with Austrian capital would remain standing, and that Austria endorsed Romania’s accession to Schengen area.

“The credit lines will remain and there will clearly be some issues to examine, but everything will rely on EU’s regulation on the free movement of capitals”, said Fischer at the end of talks with Romanian president Traian Basescu.

Fischer showed that the economic situation had always been a major factor in the relations between the two countries, stressing the importance of central bank governors’ attendance for talks.

“Austria has a wide economic presence in Romania, with nearly 12 bln euros investments. We will continue our solid collaboration, based on mutual confidence”, said the Austrian president.

Austria said it was ready to endorse Romania’s accession to Schengen area.

The meeting between the two heads of state was housed at the Austrian presidential Palace and one of the topics on the agenda was the energy security, Nabucco project, shored up by both countries, and cooperation in the Danube programs. Fischer said he hoped the strategy for the Danube to pay off. The issue related to relations with Russia will be another topic for the next debates, where the two ministers of foreign affairs are expected to attend.

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