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Matolcsy reaffirms need for stronger economic coordination before Ecofin meeting

Hungarian National Economy Minister Gyorgy Matolcsy reaffirmed the need for strong economic coordination in the European Union before a meeting of EU finance ministers in Brussels.

Matolcsy said the decision-makers must concentrate on the long-term with the matter.

The Ecofin meeting will discuss new stress tests for banks, the establishment of a permanent stability mechanism for the eurozone, further development of the EU's unified internal market and the excessive deficit procedure brought against Malta, he said.

The Ecofin meeting is the first official ministerial meeting of the Council of the European Union during Hungary's EU presidency in the first half of 2011.

Matolcsy said Hungary would unveil an ambitious national reform programme at the end of February. (MTI – Econews)