15 Dec 2011

NOT SO ISOLATED NOW: CZECH REPUBLIC AND HUNGARY DUMP EU TREATY TO JOIN BRITAIN

Britain was joined by both Hungary and the Czech Republic today as they dumped the EU Treaty in a triumphant victory for David Cameron.

The two countries said that would not join the new EU Treaty aimed at tackling the eurozone's debt crisis if it meant giving up their countries independent tax policies. 

Like Britain, neither Hungary nor the Czech Republic use the euro and if they signed the treaty the countries tax and budget policies would be subject to EU approval. 

The Czech and Hungarian prime ministers announced their positions on the tax issue at a press conference held during an official visit by the Czech premier to Budapest. They said they wanted to take active roles in negotiating the new treaty, but need details on how it will affect non-eurozone nations.

"We support the solutions which result in the stabilization of the eurozone," Czech Prime Minister Petr Necas said, citing his country's dependence on exports to Western Europe. "But we are convinced that tax harmonization would not mean anything good for us."
Hungarian Prime Minister Viktor Orban said Central Europe had the potential to become the most competitive region in Europe once the current debt crisis is overcome. "So the only kind of cooperation we can have with the eurozone is one which does not damage Hungary's competitiveness," Orban said. Source/Full story