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Government Ready to Meet New EU Demands on Funding

HUNGARY
  • In the latest step closer to securing EU funding, Navracsics said in an interview this morning that the government are prepared to accommodate further EU demands and implement legislation to obtain funding. He added that he expects not only monitoring of anti-graft measures by the EU’s executive body, but further requirements that can easily be met with legislation, according to Inforadio.
  • Following the meeting of EU energy ministers yesterday, Hungarian representative Szijjarto claimed the European Commission are refusing to face reality and has clearly not learnt from previous mistakes. Szijjarto re-affirmed that Hungary will not take part in any joint acquisitions of energy and the setting up of a common platform is a Hungarian red line.
  • Yesterday’s unchanged NBH rate decision was wholly inline with expectations, with the subsequent press conference stressing that the bank will use the emergency tools outlined a fortnight ago to stabilize markets and tighten financial conditions. Deputy governor Virag claimed that the bank are already seeing signs of a cooler market, reinforcing the effectiveness of their policy approach.

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