Hungarian Speaker: international financial system “is a giant pyramid scheme”

The balance of powers between democratic states and private global powers without a democratic mandate “can still be restored”, the Speaker of Parliament said on Friday.

Speaking at an event held in Parliament as part of the study days of the European Conservatives and Reformists’ committee of regions, László Kövér said the balance could be restored only as long as “the majority in European countries still stand for normality, and there is still parliamentary democracy, and while there are political forces shouldering responsibility for their homeland, nation and Europe.”

The current international financial system “is a giant pyramid scheme”, Kövér told the event entitled Defending common sense and strengthening cooperation in the EU’s multi-level governance. In that system, he said, state finances based on a budget saw growing debt each year while “private powers” saw their “stock of outstanding loans growing and growing”. The power of states to represent their interests “is shrinking while that of private powers grows”, he said.

“Although the connection seems remote, that process is rooted in abnormal developments in the politics, economy and culture of the western world and Europe,” he said.

Hungarian family policies “exemplary” in Europe

Judit Varga, the (Fidesz) head of parliament’s committee for EU affairs, told the meeting that Hungary had a working model to address demographic challenges. She said Hungary’s family policies were seen as “exemplary” in Europe and the world.

“Hungary’s demographic policy is also a message to Europe. We don’t want to address that challenge by settling foreigners in the country, but by strengthening families,” she said.

“We European conservatives have the task to lead Europe back to common sense, because that is the only way to ensure peace and security, and the only way to protect the European way of life, security and freedom,” she said.

CoR ECR President Marco Marsilio said preserving European values was key to the community’s stability and economic growth.

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