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Commission, Ecofin support Hungary presidency economic program

Members of the European Commission and European Union finance ministers voiced their support for Hungary's EU presidency economic program at a meeting in Brussels.

Hungarian National Economy Minister György Matolcsy presented the program which introduces a “semester” in the interest of closer economic cooperation, strengthens economic government, reinforces financial services and regulations, and creates a permanent stabilization mechanism for the eurozone.

Economic and Monetary Affairs Commissioner Olli Rehn said Hungary had taken over the rotating EU presidency at a difficult time, adding that Ecofin had intensive work ahead of it in the coming months. Giving a broad and effective answer to the problem of sovereign debt will be a challenge for the EU in the first half of the year, he said. (MTI – Econews)