Press Conference by Prime Minister Viktor Orbán and Secretary General of the European Trade Union Confederation (ETUC) Bernadette Ségol.
(21 June 2013, Budapest)

I am glad to welcome Madam Secretary General here in Hungary today. I feel that it is important that it not always be only the representatives of politics and capital that put forward their opinions on the state of the European economy, and it is important that in addition to the opinion of Hungarian trade unions, the Hungarian Government also become aware of the opinion of international trade unions.

I would not like to speak instead of the Secretary General, but their opinion on the state of the European economy is not too flattering. What I have tried to tell Madam Secretary General is that there is an innovative and interesting process of economic reorganisation underway in Hungary, that in many places around the world is referred to in a slightly condescending manner as unorthodox. They would be closer to the truth to call it innovative, because it includes many new elements and is searching for the answer to the question of how it might be possible to reduce government debt and budget deficit concurrently, while at the same time invigorating economic growth, creating new jobs and increasing wages. This is the million dollar question. And based on economic data for the first quarter, a Hungarian answer to this question indeed exists, because government debt is falling, the budget deficit is under control and decreasing, growth had begun, unemployment is decreasing and there has been a significant increase in real wages in Hungary. And on top of that we are financing ourselves from the markets and not with the help of the IMF; the Hungarian financial system is being maintained from its own resources. An important part of this policy is the rejection of austerity measures, and although trade unions and the Government are of a different opinion on many issues, both in Hungary and internationally, their thoughts coincide on one point and that is that the European economy cannot be put in order through austerity measures. The Hungarian economy can also not be put in order through austerity measures, and so instead of austerity, we haven chosen a policy that means the full renewal of the Hungarian economy.

It has been an honour to exchange ideas with Madam Secretary General today.

(Prime Minister's Office)