Within the framework of a financial conference in Frankfurt organised by Sberbank, the largest bank in Russia and Eastern Europe, Prime Minister Viktor Orbán participated in the discussion entitled “New Economy in Europe: Between a Rock and a Hard Place.”

The event was also attended, among others, by former German Chancellor Gerhard Schröder, Serbian Head of Government Ivica Dacic, Prime Minister of Republika Srpska entity of Bosnia and Herzegovina Milorad Dodik, and Václav Klaus, President of the Czech Republic.

The participants exchanged views on the current state of the Eurozone, its impact on Central, Eastern and South-Eastern European countries, as well as the region’s future development.

In his presentation, Viktor Orbán explained that the period of welfare states in Europe has come to an end, and Hungary has a clear response to this situation, that is, to create a work-based society. He stated that the crisis can only be overcome by creating the conditions for an expanded labour force to which end not only structural reforms have been implemented, but Hungary has been renewed and revitalised as well. The Eurozone crisis has underlined that Europe cannot live in the same way as it has so far, he added.

Last Friday, at the Slovak-Hungarian Economic Forum held in Budapest, the Prime Minister also pointed out that instead of endeavouring to build a welfare society, a so-called workfare society should be created. He also emphasized the importance of Central European cooperation and keeping close ties with Germany, furthermore, he envisioned Central Europe as the fastest growing region on the continent during the next decade.

(Prime Minister's Office)