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Hungary still fence-sitter on Franco-German “competitiveness pact”

Hungary has not yet decided whether it will join a “competitiveness pact” proposed by France and Germany that would eliminate some economic policy differences between eurozone members, Hungarian Foreign Minister János Mártonyi said.

“For the moment, we are gauging who wants to join,” Mártonyi said. Of the ten EU members who have not adopted the euro, 3-5 are not expected to join the pact, he added.

“We fully agree with the text of the pact,” Mártonyi said, but added that Hungary “has never liked tax harmonization”.

Laying the foundations for European economic governance, is a measure of success for the Hungarian EU Presidency, Mártonyi said in an interview published on Hungary's EU Presidency website in early March. The German-French initiative and strengthening common Union policies is in harmony with that, he added.