SYDNEY (AFP) - Australian Treasurer Wayne Swan said Saturday the nation was well positioned to weather economic shocks emanating from Greece, after the central bank warned that world jitters could intensify. Swan said he had been briefed by Treasury officials on developments in the eurozone, where leaders launched plans to create a new crisis fund for troubled countries as Greece grappled with debt chaos. There is obviously intense activity internationally over the weekend between national governments, particularly European governments and international financial institutions, Swan told reporters. Australia is in a strong position relevant to other advanced economies, he added. Of course, we take these events seriously. Australias central bank Friday warned that the situation in Greece was weighing on public sentiment and posed an ongoing downside risk for the global economy. It is possible that the fiscal problems in Europe could intensify, prompting a retreat from risk-taking by investors and a sharp slowing in the world economy, although, to date, the impact has been largely confined to Europe, the Reserve Bank of Australia said in its quarterly statement on monetary policy. Prime Minister Kevin Rudd said sharply falling world markets had judged rescue plans to date inadequate, adding that Australia was watching efforts to restore confidence with considerable concern. The 16 heads of the countries that share the euro currency Saturday said they want to build an emergency fund for countries targeted by powerful bond markets, after the regions debt mountain sent global bourses tumbling and triggered alarm from the United States to Asia. The leaders, meeting for a late-night crisis summit in Brussels, acknowledged that the scale of the problem had gone beyond Greece, plunging the 11-year-old eurozone into a state of emergency. German Chancellor Angela Merkel said that the stabilisation fund would send a very clear signal to market speculators to back off.