Articles
Hungary’s banks reeling after government tax
Hungarian banks warned that a bank tax put forward by the country´s government would only harm the sector, which has proven to be viable even in the worst periods of the economic crisis. EurActiv Hungary reports.
Eurostat: Unemployment did not diminish in the EU
The euro area seasonally-adjusted unemployment rate was 10.0% in May 2010, unchanged compared with April. In Hungary, unemployment is growing, but rates show the opposite dynamics.
Hungary is saved by Greek bail out
Unprecedented, 110 million euros bail out has been agreed for Greece this weekend. The indebted country assured EU and IMF to take strict measures to diminish public costs and get the budget in line. The steps could also save Hungary from effects of the instability of the eurozone.
Rehn: Hungary is on the right path
'Hungary has taken effective action,' the European Commission and the International Monetary Fund (IMF) say in their common evaluation about the countries counter-crisis mechanisms.
Hungarians still see unemployment as the biggest problem
Similar to other EU citizens, Hungarians see unemployment as the biggest problem in their lives, the latest Eurobarometer survey presented in Budapest on Thursday shows.
Common tax, common responsibility
Common, but indirect taxation should be introduced after 2014, Sándor Richter, researcher of the Vienna Institute for Internal Economic Studies believes. However, redistribution should work out on national level, he stresses. Specialists from the Visegrad countries doubt that such an idea would be viable, so even without the net contributors, opinions differ a lot. Starting the debate about the new EU financial framework will be a challenging task for the 2011 Hungarian presidency.
Commission examines Hungarian Audi aid
State aid is planned for the investment project of the Hungarian Audi factory, the Hungarian Government announced. The European Commission however believes, the aid does not match EU rules.
EBRD: Hungary will recover slowly
The flaws in Eastern Europe's model of growth have been exposed by the financial crisis and commodity-reliant countries like Russia must expand their industrial base to make them more resilient, the European Bank for Reconstruction and Development (EBRD) said in an annual report on Monday (2 November).
The European Commission would reduce bottlenecks on EU-Russian border
The negotiation of the strategy of customs cooperation between Russia and the EU was the aim of László Kovács's visit to Moscow. On his two-day trip (21-22 September) the Commissioner for Taxation and Customs Union endeavored mainly to find a solution for the bottlenecks at the EU-Russian border. However, the control of the trade of chemicals used for producing drugs was also on the agenda.
EU with agreed language to the Pittsburgh Summit
The EU will go with a clear position to the G20 meeting next week in Pittsburgh, the Union's leaders announced yesterday evening (17 September) following an extraordinary summit held in Brussels.
State aid to Mercedes-Benz Hungary
The European Commission yesterday (16 July) permitted Hungary in a resolution to subsidize the Mercedes-Benz Hungary with 111,5 million euros. The company owned by Daimler AG will build a factory in the city of Kecskemét.
Commission to support small enterprises with 100 million euros
The European Commission has proposed to set up a new microfinance facility for small businesses and for people who have lost their jobs and want to start their own small businesses. It will have an initial budget of 100 million euros, which could leverage more than 500 million euros in a joint initiative with international financial institutions, in particular the European Investment Bank (EIB) Group. The new facility is one of the actions announced in the Commission's communication: 'A Shared commitment for employment'.
Debated results of the ECOFIN council
Finance ministers support the plan of reforming the EU bank supervisory system, but several details will have to be finalized at the june European Council. Ministers would enhance the fight against tax paradises, what they expect to bring 250 million euros for the EU each year.
Business leaders see Eu recession drawing to a close
Europe's fiscal and monetary stimulus plans have paid off, according to EU employers' association BusinessEurope, which forecasts a stabilisation in economic activity but warns that conditions for sustained growth are still not within reach.
