Lift excessive deficit procedure, Orbán urges EC

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Hungary's economic achievements are signs of success and the European Commission should therefore lift an excessive deficit procedure in force since the country's European Union accession in 2004, Prime Minister Viktor Orbán said on Wednesday. Orbán said in a lecture at Bruegel, the Brussels-based think tank, that Europe's share in the world economy was decreasing and the EU's crisis was basically one of competitiveness. An economic change of system is needed, with a work-based society replacing the welfare society, Orbán said.

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