October 5th, 2009

Hungarian FinMin welcomes progress on EU-wide financial watchdog

By

Hungary’s Finance Minister Peter Oszko welcomed progress on the setup of an EU financial supervisory authority after attending an Ecofin meeting in Gothenburg, Sweden, on Friday.

The council of EU finance ministers could take a decision on establishing the Europe-wide financial market watchdog at its next meeting in October, Oszko told MTI after the meeting.

He said progress toward setting up the regulator was the most important result of the meeting.

“Financial companies operating at EU level can only be supervised by such a financial regulator, there is no debate on this, talks are in their final stage with only technicalities to discuss. We trust that a decision on the establishment of the regulator will be made at a meeting of Ecofin in October,” Oszko said.

The EU finance ministers agreed that economic stimulus measures are necessary until it becomes clear that the crisis will not drag out, he said. Measures could be made at EU-level to deal with unemployment, create grwoth potential and preserve financial stability, he added.

Topics
Share
Comments [2]
The All Hungary Media Group is firmly committed to freedom of expression and therefore applies a mostly "hands off" approach to comment moderation. Comments left by readers represent their own views and do not necessarily reflect the opinions or beliefs of the staff, editors or owner of the All Hungary Media Group, who nonetheless reserve the right to remove comments that are off-topic or which moderators consider to constitute "hate speech." Also note that in order to prevent spam we generally close entries off to comments several days after publication.
  1. Watchtower says:
    October 7, 2009 at 9:18 am

    Cut the claptrap Oszko and start dealing with the following:
    “Casino land swap dirty deal: Prosecutor
    Tuesday, 06 October 2009
    ImageSome HUF 600 million (EUR 2.22 million) of taxpayers’ money may have been lost in an unfavourable land swap deal made by the National Asset Management Company (MNV), the Prosecutor General’s Office (PGO) announced last Thursday.”
    (BT Oct 09)

  2. Jorge says:
    October 7, 2009 at 6:10 pm

    Having the exceedingly great fortune indeed of not having to live anywhere in the EU, or in fact anywhere in Europe, I can’t help but to watch this unfolding EU brouhaha from far away with a dose of incredulity. Does anyone in the EU really think that the rest of the world is not holding their sides in uncontrollable laughter when watching the incredibly stupid developments that is now the hallmark of the EU?

    And little shit basket case Hungary pretending to be an actually useful member of the EU charade, playing alongside the big boys — now, that is just too fricking funny for words! Busybody good-4-nothing Hungary — a classical laugh-riot in the making!

    Regarding the land sawp deal, didn’t that have something to do with some JEWISH HUNGARIANS and/or to “investors” from the STATE OF ISRAEL? Because if it did, then why is anyone surprised?