Daily Archives: June 10, 2011

Hungarian finance minister Gyorgy Matolcsy, left, at last month's meeting of EU finance ministers

It is no secret that in the waning days of their European Union presidency, the Hungarians are going for broke trying to broker a deal on the “six pack” – the sprawling legislative package that would provide new tools, including fines, to force member states to rein in excessive spending and reform their economies.

The six pack is one of the bloc’s chief responses to the debt crisis, and pushing it over the finish line would surely rank as the high point of Hungary’s first ever turn in the EU’s big chair. (Depending on whom you ask, it could also mark an historic moment in the march toward an ever-closer European union.)

While the chances of finding common ground between member states, the European commission and a muscle-flexing parliament seemed remote just a few weeks ago, the Hungarians are not ready to give up just yet. The next hurdle comes Tuesday, when Hungarian diplomats will present a possible compromise to EU finance ministers at a dinner in Brussels. Read more