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Hungary proposes joint push for regional banking package

Hungary proposes that emerging European countries should push jointly for a package supporting the region's banks, initiated by the Austrian government, Prime Minister Ferenc Gyurcsány told foreign journalists on Wednesday, Reuters reported.

Gyurcsány, who met with Austria's foreign minister last week, said Central European countries should agree to this joint position before the next regular European Council meeting in March.

He put the volume needed for such a package at €100 billion. Austria's finance ministry has so far declined to say how big a package it proposes, Reuters said.

“We should create a wider circle of those countries who are interested in setting up this special bank rescue fund, worth €100 billion, because it is not just the interest of the Austrian government but the interest of all the governments and all the nations in this region,” Reuters quoted Gyurcsány as saying. (MTI – Econews)