ADVERTISEMENT

EU finance ministers seek more flexible conditions for BoP assistance

Initiatives

Photo by parlanteste/Shutterstock.com

European Union finance ministers urged the European Commission to make conditions for accessing balance of payments assistance (BoP), available to member states that have not yet adopted the euro, more flexible at a video conference on Thursday, Hungarian Minister of Finance Mihály Varga said in a statement issued after the meeting, state news wire MTI reports.

Photo by parlanteste/Shutterstock.com

Varga said the BoP assistance matches neither the flexibility nor the scale of the financial assistance available to eurozone members in the framework of the European Stability Mechanism. Using BoP assistance can require strict economic adjustment programs, he added.

"It is in the interest of the entire European Union that adequate attention be paid to countries outside of the eurozone beyond the credit available to eurozone countries," he said.

"The European Union must look for such solutions that ensure equal treatment of member states," he added.

ADVERTISEMENT

Pressure increasing on CFOs - PwC survey Analysis

Pressure increasing on CFOs - PwC survey

Parl't votes to phase out savings coops integration framewor... Parliament

Parl't votes to phase out savings coops integration framewor...

Roche Szolgáltató appoints P&C business partner lead Appointments

Roche Szolgáltató appoints P&C business partner lead

Capital sees urban exodus during pandemic City

Capital sees urban exodus during pandemic

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.