EU Finance Ministers not worried about Spain
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The EUR and Spain received a vote of confidence minutes ago as the comments started pouring out of the meeting of EU finance ministers. Hungary was not so lucky as it stands to lose its funding because of its failure to meet its budget targets.
German Finance Minister Wolfgang Schaeuble mentioned that Spain has made the right choices with structural reforms and asked reporters not to speculate about a third Greek bailout program if austerity measures fail be enacted.
Hungary on the other hand is being singled out as it has failed to meet budget targets. The funds could be reinstated in June if the Hungarian government builds a good case of policy implementation. The Hungarian Finance minister is confident that by June they will overturn the decision by meeting their targets.
Posted in: Forex