Hungary under EC pressure - EUbusiness Week newsletter 558

This Week's Top Stories

1. France and Spain sell bonds as IMF mulls euro bail-out
2. EU to sanction Iran bank, Greece holds up oil embargo
3. EU, US meet as fresh Airbus sanctions loom
4. EU urges China to join WTO procurement deal
5. Pragmatic Croatians set to back EU membership
6. UK faces EU renegotiation over Scottish independence

Publisher's Note

Hungary's Prime Minister Viktor Orban, at the European Parliament this week, struggled to defend his right-wing government's right to institute laws which undermine the independence of its central bank, judiciary and data protection authority. Recent media reforms appear also to be leading to the shutting down of the only nationwide opposition radio station in the country.

As the country veers away from core EU values of freedom and democracy, the Commission is threatening legal action. With Hungary hoping for a credit line from the EU and the IMF, Mr Orban may soon have little alternative but to bow to the EC pressure that is growing by the day.
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Regards,

Nick Prag
Publisher, EUbusiness

1. France and Spain sell bonds as IMF mulls euro bail-out

France and Spain successfully raised funds at lower rates on the markets Thursday despite a raft of eurozone credit downgrades, while Greece got the prospect of more rescue loans from the IMF.
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Bailouts only for states signing EU budget pact: draft

2. EU to sanction Iran bank, Greece holds up oil embargo

EU nations have agreed to sanction Iran's central bank, freezing assets used to finance its nuclear drive, but have yet to clinch an oil embargo deal that could penalise debt-hit Greece.
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3. EU, US meet as fresh Airbus sanctions loom

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4. EU urges China to join WTO procurement deal

The EU on Tuesday called on China to adhere to a new agreement reached by members of the World Trade Organization to further open up government procurement -- a market worth hundreds of billions of euros.
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5. Pragmatic Croatians set to back EU membership

Voters are set to narrowly endorse Croatia's entry into the EU on Sunday in a referendum that leaders hope will cement its place in the heart of Europe, two decades after winning independence.
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6. UK faces EU renegotiation over Scottish independence

Britain would have to renegotiate its EU membership if Scotland voted for independence, according to senior EU sources, as Scotland and England fight a high-stakes referendum battle.
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EU diary

23 Jan, Eurogroup meeting
23 Jan, Agriculture and Fisheries Council
23 Jan, Foreign Affairs Council
24 Jan, Economic & Financial Affairs Council
30 Jan, European Council (informal)
The Week Ahead
Long-term diary

RESOURCES

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