The day before Prime Minister Viktor Orbán presented the priorities and programme of the Hungarian EU Presidency to the European Parliament in Strasbourg, France, Minister of Finance Mihály Varga of Hungary was attending the Economic and Financial Affairs Council configuration (ECOFIN) meeting in Luxembourg City, Luxembourg on Tuesday, 8 October.
ECOFIN is an institution that consists of the economy and finance ministers of all EU Member States. It is one of the oldest configurations of the Union, established in 1986. Its primary function is to determine the common economic policy of the EU and set up the regulatory framework for financial services.
At the event, Minister Varga stopped to talk to a reporter about exactly what was on the agenda of this prestigious meeting of the financial leaders of the Union.
‘First, we will focus on Europe’s economic recovery, with particular attention on the Recovery and Resilience Facility. We will be reviewing updates to the national recovery plans for several member states. We will also discuss the ongoing economic impact of Russia’s aggression against Ukraine. This includes updates on the Ukraine Facility and the implementation of the EU G7 initiative to provide $50 billion in loans to support Ukraine’s recovery…
Our meeting will also touch on upcoming international events. For instance, in the second half of this month, the IMF and the World Bank’s annual meeting is in Washington, D.C. We will also discuss the conclusions on climate finance…I am confident that through collaboration, we will build a stronger Europe and a more resilient Europe’.
By Wednesday, Minister Varga was back in Budapest, Hungary to testify before the Budgetary Committee in the Hungarian National Assembly.
‘I am confident that through collaboration, we will build a stronger Europe and a more resilient Europe’
At a lecture at the Ludovika University of Public Service last month, Prime Minister Orbán stressed that restoring Europe’s competitiveness in the global economy is one of the top priorities of Hungary’s presidency of the Council of the European Union. He lamented the fact that Europe’s share of global commerce has been constantly decreasing; and that most of the monetary and intellectual capital has been moved to Asia. He also shared that there is a European Competity Pact posed to be signed by European leaders in Budapest, Hungary next month.
Related articles:
