Despite the boycott, Hungarian Finance Minister Mihaly Varga called the meeting a success and addressed concerns by emphasizing the country’s commitment to addressing climate change while maintaining competitiveness.
advertisementEU finance ministers met informally in Budapest to focus on several pressing issues, including climate policy, ageing populations and the green transition.
During the meeting, officials stressed the need for Hungary to improve the coherence and transparency of its climate policy. Hungary’s Finance Minister Mihai Varga said Hungary wanted to achieve this goal in a way that contributes to competitiveness.
“The new element in the discussion was how to mobilize existing disposable income and how to increase other types of investment that are needed for economic growth in Europe,” he told a news conference on Friday.
“This was an informal meeting, so no decisions were taken this time, but the large number of participants and the high level of representation of most member states this time can be considered a success for the Hungarian presidency,” Varga added.
Varga also said he was pleased with the turnout, despite many countries boycotting the event, which saw just nine EU finance ministers attend.
He noted that all EU countries were represented “at a fairly high level”.
Why do boycotts occur?
Hungary currently holds the six-month rotating presidency of the EU Council, during which time it plays a role in coordinating policy and hosting various informal ministerial meetings.
But after Hungarian Prime Minister Viktor Orban travelled to Moscow in July to meet Russian President Vladimir Putin and billed himself as a “peace envoy”, several EU countries announced they would boycott the upcoming Budapest meeting hosted by Hungary as the EU Council presidency.
The European Commission, led by President Ursula von der Leyen, also announced it would boycott the Budapest meeting and that no members would attend.
