Hungarian finance minister: EU, US should strive for equal relations – Eurogroup meeting
Economic ties between Europe and the US will be effective only if they are built on an equal relationship, and the European Union acts on its own interests, Finance Minister Mihály Varga said after a Eurogroup meeting in Luxembourg.
The minister said after the meeting held with the attendance of US Secretary of the Treasury Janet Yellen in Luxembourg that the crisis brought on by the war in Ukraine and the related sanctions is contributing to the EU losing ground economically and to weakening competitiveness while the US economy’s performance exceeds expectations.
Skyrocketing prices at the beginning of the war in Ukraine hit Europe harder, as it is dependent on external energy resources, he said. The US, a net exporter of energy, is performing better, he said.
The US Inflation Reduction Act, adopted last year, has also hit the EU’s car manufacturing industry, he said. “That is concerning,” Varga added.
A robust, growing European economy is key to dynamic Hungarian growth, Varga said. At the same time, Hungary’s economy is open to all markets, and Europe should be the same, towards China and others, he said.
As we reported, Romania has already overtaken Hungary in terms of GDP. It seems that not only Romania but also Bulgaria will do better than Hungary this year, details HERE.
Also we wrote before, Hungarian forint loser of the past decade
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1 Comment
Mihaly Varga – Finance Minister, a “founding” Father of Fidesz, very much an “inner sanctum” untouchable of the Orban “clan” never ceases to amaze me, with his Economic and Financial theories.
The subject of this article, statements/opinions – from Mihaly Varga just fit compactly into, what is meant by the phase – expression/term -“have your cake and eat it.”
It’s meaning is to have two things that one desires that are normally contradictory or impossible to have or do simultaneously.
Mihaly Varga – clearly “coming out” in his opinion, wants the benefits NEEDS in the collapsing state – through major directional Financial & Economic decisions made from the desks of Mihaly Varga and the present Prime Minister of Hungary – Victor Orban – that have proven to be cataclysmic disasters, Hungary needs.
Mihaly Varga – somewhat is STATING using it “veiled” or absent of Fact & Truth – which we know is part of his rhetoric that he somewhat wants to have the benefits of two different options – without having to make a choice between them.
he phase is often used, throughout history, which never lies, in a negative context, to suggest, in this case – Mihaly Varga – Finance Minister of the Orban Government of Hungary, that suggests Varga, is being un-realistic or GREEDY – in there expectations.
Varga – Orban – like what the potters hands do to clay, they designed shaped and set us on this course of Economic & Financial gloom, growing HARDSHIP in the lives of millions of Hungarians – through amongst numerous other factual examples, this GLOOM that is spreading broadsheet throughout Hungary.