Enikő Győri, Minister of State in charge for European Affairs at the Ministry of Foreign Affairs stated that Hungary would not accept any solution in handling the euro crisis that would be disadvantageous for the non-Eurozone members of the European Union. The Minister of State presented the country’s position in front of the Hungarian Parliamentary Committee on Foreign Affairs on November 13.

Minister of State Győri declared that the crisis of the Eurozone was not over, therefore comprehensive reforms were needed that are aimed at the establishment of genuine economic and financial union. She added that the European Council would be discussing the report submitted by Herman Van Rompuy concerning the advancement of economic and financial union within the EU. The Minister of State pointed out that the banking union was one of the pillars of the economic and financial union.

She also argued that the lesson of the current crisis for the leaders of the Eurozone could be that it is not possible to establish an economic and financial union and to have a feasible common currency without curtailing the sovereignty of the member states and enforcing stricter economic coordination. She claimed that favorable developments can be detected indicating the improving situation, but the way out of the crisis had not yet been found.

(Prime Minister’s Office)