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EU commission threatens action over Hungary

01-12-2012 07:27 BJT

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The European Commission says that Hungary had taken "no effective action" to contain its deficit to within sustainable levels, and is threatening the EU member with sanctions.

European Union Monetary Affairs Commissioner, Olli Rehn warned that the EU could eventually withhold development funds if Hungary continued to fail to act on its deficit. The commission has been requesting Budapest to take longer-term reforms to put its finances back on a sustainable path.

European Commissioner for Economic and Monetary Affairs Olli Rehn adjusts his glasses as
he addresses the media at the European Commission headquarters in Brussels, Wednesday,
Jan. 11, 2012.

So far, Hungary has rejected those demands. The warnings escalate the standoff between the EU and Hungary’s government, and underline the difficulty Budapest will face in negotiating an international rescue package from the EU and the IMF.

 

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Editor:Zhang Rui |Source: CNTV.CN

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