MNB governor says resolution of eurozone crisis should not harm non-zone states

Conferences

The euro-zone debt crisis should be resolved in a way that causes no damage to states outside the zone, National Bank of Hungary (MNB) governor Andras Simor said during a roundtable discussion at the Euromoney financial conference in Vienna on Wednesday.

Mr Simor said that the some Central-East European countries such as Hungary are more deeply integrated into the eurozone than some states on zone’s periphery. The measures aimed at resolving the crisis should be formulated in cooperation with those countries, he said.

During crisis management, the focus should be on fiscal sustainability rather than on fiscal discipline, Mr Simor said.

There is a need for rules which help to create jobs and enhance innovation as well as improve competitiveness and confidence.

Mr Simor talked of the need for a stable and reliable environment. All market players take risks but these should not be legal or regulatory risks, the MNB governor said.

ADVERTISEMENT

Multiple Sectors Pay Above Average Wages Figures

Multiple Sectors Pay Above Average Wages

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Automotive Industry Experiences Best Q3 on Record Automotive

Automotive Industry Experiences Best Q3 on Record

Hard Rock Hotel Opens 'Star Chalet' for Winter Season Hotels

Hard Rock Hotel Opens 'Star Chalet' for Winter Season

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.