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Leaders tackle economic crisis collectively

The leaders of Switzerland, Austria, Germany and Liechtenstein have vowed to brave the world financial crisis and its effects together.

At a yearly meeting among the heads of state in Rapperswil, in canton St Gallen, Swiss President Pascal Couchepin told reporters on Tuesday that European peace and stability should offer worldwide hope during times of insecurity.

While forecasts look grim for the coming economic year, Couchepin said there is still a collective will to cooperate on analysing the events that led up to the crisis. Together the countries can make a concerted effort to draw conclusions for the future.

The next meeting among the German-speaking states will take place in 2009 in Austria.