Economic Governance Reform Draft Modified in Line With Hungary's Stance

EU

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The draft of the European Union's economic governance reform has been amended to suit positions advocated by Hungary, Finance Minister Mihály Varga said after an informal video conference of EU economy and finance ministers on Wednesday, according to a report by state news wire MTI.

Hungary has always taken the stand that in the area of fiscal policy national governments' room for manoeuvre, not the European Commission's, must be increased, Varga said. The approved draft of the reform strengthens the roles of member states and the Council as opposed to that of the EC, he added.

Hungary's proposal to account for additional defense expenditures when calculating Maastricht deficit levels was also written into the draft, he said.

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