The European Union (EU) on Wednesday expressed concern over Taiwan leader Chen Shui-bian's latest secessionist move, saying it is "not helpful to maintaining stability and peaceful development in the Taiwan Straits."

Chen declared Monday afternoon that the "National Unification Council" would "cease to function" and that the "National Unification Guidelines" would "cease to apply."

"The EU attaches great importance to peace and stability in the Taiwan Straits. This is important to the region and beyond," said a statement by Austria on behalf of the EU. Austria currently holds the rotating EU presidency.

"It (The EU) encourages both sides to take initiatives aimed at promoting dialogue, practical cooperation and confidence-building, " the statement said.

Source: Xinhua