Written by 11:35 am Europe Economy

Central Europe’s Economic Success at Risk

The very basis of Central Europe’s economic success is at stake if peace is not reached soon in Ukraine, the Hungarian prime minister’s political director warns.

China and the US might win something by dragging out the war in Ukraine, but Europe has certainly nothing to gain from it, Balázs Orbán, the Prime Minister’s Political Director said at the Ladislav Hanus Society’s Conservative Summit in Bratislava on Monday.

According to Balázs Orbán, a prolonged war will cause economic decline, inflation, energy crisis, and unemployment in Central Europe. “The fundamentals of Central Europe’s economic success will vanish,” he warned, adding that without their economic success these countries will not be taken seriously and the region will turn into an irrelevant periphery.

“The perspective for Central Europe is that in ten years’ time we will catch up with the West and leave Southern Europe behind, and that perspective is threatened by the current situation.”

Balázs Orbán noted that Hungary’s position is that a ceasefire and peace must be reached as soon as possible. He added that some governments might take different factors into account but at the end of the day, this is a strategic necessity which will bring the Visegrád countries – Poland, Hungary, Slovakia, and the Czech Republic – together. “The countries in the region need to be able to defend themselves from the military conflict to their east, and all four countries still need to strengthen their military capabilities to do so,” he noted.

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Featured photo via Facebook/Orbán Balázs

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