Varga urges Brussels to provide more credit for Hungary

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Hungary’s National Economy Minister Mihály Varga urged Brussels to give Hungary more credit for the impact of structural transformations on economic growth when preparing its recommendations, the minister told Hungarian news agency MTI over the phone following his talks yesterday with Jonathan Hill, EU commissioner for financial stability, financial services and capital markets union.

The talks addressed the European Commissionʼs country specific recommendations for Hungary as well as a proposal for a union of capital markets. The minister noted that he also conveyed the Hungarian governmentʼs comments on the preliminary report published in March, in which it had found several things missing.

Varga said the Hungarian government gave its full support for the "green paper" of capital markets union, as it is in Hungaryʼs interests to see a strengthening of movement between capital markets which could bring benefit to the countries in the region.

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