samedi 9 juillet 2011

Le ministre de l'Economie hongrois Gyorgy Matolcsy s'en prend vivement à la Grèce malhonnête : elle n'aurait jamais dû rentrer dans la zone Euro et même dans l'UE

Greece shouldn't have been let into euro - Hungary minister

By Gergely Szakacs

BUDAPEST | Thu Jul 7, 2011 9:16pm IST

(Reuters) - Weaker EU states such as Greece should never have been allowed into the euro zone, a Hungarian minister said on Thursday, adding that his country was not yet strong enough to join.

Hungary would only be ready to join the euro in about 2018-2020, Economy Minister Gyorgy Matolcsy said, and did not rule out that some countries would have to abandon the single currency.

Hungary, which limped through the global crisis on an International Monetary Fund/EU loan, meets none of the criteria of euro entry. Neither central European heavyweight Poland, nor nearby Czech Republic have a timetable to join the euro.

"Greece should not have been allowed into the European Union and especially into the euro zone. These are serious words, which I could not have uttered a few days ago as chairman of the Ecofin just a few days ago," Matolcsy told a public discussion just a few days after the end of Hungary's EU presidency.

"But I must agree with those who said that a bad political decision was made when Greece was allowed to join,"
he said.

Matolcsy said the European Union should have built up fiscal safeguards, such as stronger budget monitoring and penalties for offenders it is working on now, to protect Europe from "continuous cheating by the Greeks."

He said Europe was out of good solutions on Greece and will eventually opt for either of the remaining bad solutions. He did not elaborate.

"Historically, from 1999, it would have been better to adopt only those countries into the euro zone, who can sustain this heightened competitiveness currency," Matolcsy said.

"It would have been better not to let the southern, southwestern range enter, but now they are in," he said. "I do not rule out that they make a decision that not all of them will remain a member, it will be their decision to make."

He did not name any country in particular in this respect.

Matolcsy said in the future only highly competitive countries with rock-solid public finances should be allowed to enter the single currency area to avoid a repeat of the bloc's raging debt crisis.

"If you are strong, it is good to be inside the euro zone. If you are weak, it is life-threatening," Matolcsy said.

"Given that we are weak and meanwhile the euro zone crisis has also erupted, I think Prime Minister Viktor Orban is right in saying that we can become a member of the euro zone in around 2018-2020," he said.

(Reporting by Gergely Szakacs; Editing by Anna Willard)
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