Hungary should avoid getting into undeserving situation in banking union, says PM

Brussels, October 19 (MTI) – Hungary must avoid getting into an undeserving situation as a result of banking union in the euro zone, Hungarian Prime Minister Viktor Orban said after the EU summit in Brussels on Friday.

“We are not a member of the greatly troubled euro zone, but it is in our interest that their problems are resolved,” he said. Its decision will nevertheless have an impact on Hungary, which is not indifferent to “how they solve their own crisis,” Orban said.


Hungary, in agreement with its Visegrad Four partners, insisted that the measures creating the banking union should not be taken outside the EU’s institutional system, should not hit the non-euro countries and should not endanger the integrity of the single market, he said.


The rules of the banking union should only pertain to its members while the non-euro zone countries should be allowed to freely decide if they want to join the banking union, Orban said.


Should the euro zone members decide to set up a “special financial bastion” to save their banking system, a similar institution should be established for the non-euro countries as well, he said.