German
26th July 2010On 21st July Hungarian Prime Minister Viktor Orban travelled to Berlin where he met German Chancellor Angela Merkel. During a press conference, Ms Merkel pointed to the close collaboration and friendly links between Hungary and Germany. From an economic point of view she said that even though Hungary was not in the Euro Area it should as an EU Member State respect the Union's budgetary criteria setting the budgetary deficit at a limit of 3%. Mr Orban said: "We are slowly becoming the world champions with regard to reducing spending," adding that Hungary would succeed in reducing its deficit to 3.8% of the GDP in 2010 as agreed with the IMF and the EU against a loan of 20 billion euros.
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