Minister without portfolio for negotiations between Hungary and certain international financial organisations Tamás Fellegi consulted deputy head of the EC and European Commissioner for Economic and Financial Affairs Olli Rehn about the actions required for the commencement of negotiations on an eventual safety line with the European Union and the IMF in Brussels.

The minister confirmed that the Hungarian Government endeavoured to achieve the earliest possible agreement and conduct the constructive dialogues required for starting official negotiations with the EU/IMF, about the amended central bank act and the steps required for increasing confidence in Hungary. In assessment of the meeting, Tamás Fellegi stressed that he was confident of the earliest possible commencement and quick closing of the official negotiations.

The talks with finance commissioner Olli Rehn were attended by Minister of State for Taxes and Finances of the Hungarian Ministry of the National Economy Gyula Pleschinger, deputy governor of the National Bank of Hungary (NBH) Ferenc Karvalits, chairman of the Parliamentary Economic and IT Committee Antal Rogán, and ambassador Péter Györkös, head of the Permanent Representation of the Republic of Hungary to the EU. The parties discussed the fundamental directions and the conditions considered as mutually acceptable for them in relation to the commencement of negotiations directed at granting financial assistance to Hungary. Tamás Fellegi repeated and confirmed that as Hungary did not actually need to promptly draw down the support, it was reasonable for the agreement to contain precautionary elements.

In summary of his two-week informal negotiations conducted to prepare Hungary’s loan agreement, the minister stressed that each party was interested in the continuation of negotiations on a political and expert level. Tamás Fellegi pointed out that effective decisions may only be adopted after the Tuesday Barroso-Orbán meeting, when seeking solutions for the open questions may start.

Following the international press conference, the delegation head conducted additional negotiations with Council Director General of Economic and Social Matters, Carsten Pillath, EU commissioner responsible for employment, social affairs and inclusion, László Andor, Chief Executive Officer of KBC, Jan Vanhevel and Belgian Finance Minister Steven Vanackere.

Prior to the talks Tamás Fellegi had in Brussels today, between 9 and 19 January 2012, he conducted informal consultations in Washington, Frankfurt, Berlin and Vienna to prepare the official negotiations on Hungary’s loan with the aim to perform preliminary reconciliation of the significant positions taken by the various European institutions and governments regarding Hungary’s agreement  with the EU/IMF.

(Press Office for Tamás Fellegi, Minister without Portfolio)