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Hungary risks losing EU funds,       ministers say              BY: Valentina Pop              24.01.12 @ 19:34Abigail Wee...
WHO: EU Finance MinistersWHAT: Warned Hungary that it may lose EU funds if it fails     to fix its excessive deficit, a pr...
• "Hungary cannot face sanctions under the  excessive deficit procedure as it is not a member  of the euro area. But for b...
EU economics commissioner – Olli Rehn
Economics Minister - György Matolcsy
On the label – "Central Bank".Prime Minister Viktor Orbán haspassed a law reforming the status ofthe Hungarian Central Ban...
Implications to EU• Apathetic Hungary• Political criticism in EU institutions including  the European Parliament of Orban’...
SOURCES• http://euobserver.com/19/115003• http://www.presseurop.eu/en/content/cartoon/1375231-ogre-budapest• http://www.th...
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Hungary Risks Losing EU Funds, ministers say"

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Hungary Risks Losing EU Funds, ministers say"

  1. 1. Hungary risks losing EU funds, ministers say BY: Valentina Pop 24.01.12 @ 19:34Abigail WeeAB INTS-II
  2. 2. WHO: EU Finance MinistersWHAT: Warned Hungary that it may lose EU funds if it fails to fix its excessive deficit, a problem since 2004.WHEN: Tuesday (24 January)WHERE: Brussels
  3. 3. • "Hungary cannot face sanctions under the excessive deficit procedure as it is not a member of the euro area. But for beneficiaries of the EUs cohesion fund, such as Hungary, failure to comply with the Councils recommendations can lead to the suspension of cohesion fund commitments," the ministers said in their conclusions on Tuesday.
  4. 4. EU economics commissioner – Olli Rehn
  5. 5. Economics Minister - György Matolcsy
  6. 6. On the label – "Central Bank".Prime Minister Viktor Orbán haspassed a law reforming the status ofthe Hungarian Central Bank, andlimiting its independence.
  7. 7. Implications to EU• Apathetic Hungary• Political criticism in EU institutions including the European Parliament of Orban’s administration.
  8. 8. SOURCES• http://euobserver.com/19/115003• http://www.presseurop.eu/en/content/cartoon/1375231-ogre-budapest• http://www.theepochtimes.com/n2/world/all-eu-nations-on-debt-crisis- watch-list-except-one-37542.html• http://www.economist.com/blogs/easternapproaches/2011/12/hungary- and-imf

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