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Hungary to propose lowering co-payments for EU projects

Hungary will propose lowering national co-payment obligations for EU-supported projects at the EU summit meeting on Wednesday, Prime Minister Ferenc Gyurcsány announced at a press conference on Tuesday.

Hungary will also ask to be allowed to combine separate EU subsidies in regional crisis management funds in order to offer a flexible reallocation of resources from economic, rural, infrastructure or human resource support funds if a region is severely hit by the current turmoil on financial markets.

Gyurcsány will propose equal access to ECB intervention means to member states outside of the eurozone.

Hungary will propose that countries that meet the 3%-of-GDP deficit requirement for adopting the euro be exempt from an obligation to further reduce the central government financing requirement in times of recession.

Gyurcsány confirmed that Hungary will repeat its call for establishing an EU financial market watchdog at the summit. (MTI – Econews)