Commission sees no insurmountable barrier to credit deal with Hungary

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The European Commission wants to continue work in a constructive spirit with the aim to reaching an agreement with Hungary on a framework of economic reform and fiscal policy that could serve as the foundation for a precautionary financial assistance programme, the EU executive told Hungary’s state-owned newswire MTI late on Wednesday.
“There is no fundamental reason why we would not be able to make steps forward and overcome the disagreements that have been setting back progress," said Simon O’Connor, spokesperson for Commission Vice-President Olli Rehn, in a response to MTI.

The news agency requested a comment from the EC after a media report on Rehn making it clear that before resuming formal aid talks the Hungarian government needs to send a clear message that if an agreement is reached it will be followed through.BruxInfo reported on Wednesday that with respect to the pending talks on a credit facility with the lenders Rehn pointed out that the recent anti-IMF media campaign fails to attest that Hungary is committed to brining the talks to a successful conclusion. He also said that the content of several measures could not be fit into an IMF financial assistance programme.

O'Connor did not comment on this specific report and he sent only the above statement, saying the EC does not see a fundamental, insurmountable barrier to a deal.
 

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