György Matolcsy, Minister of National Economy has somewhat surprisingly admitted at the current ECOFIN conference that the EU’s decision to revoke financial support for Hungary through cohesion funds was fair. He says the resolution was reasonable considering not only the Hungarian interests but those of the EU as well, as it removed a double standard that had been applied to the country. Matolcsy said the Hungarian government would be successful in reining in budget deficits and claimed it was prepared to enter into negotiations with the IMF and the European Union over a financial assistance package.
