EU suspends rescue package for Hungary because of budget deficit

Source: BBC
The EU has decided to freeze the rescue fund worth about 495 million Euros that had to be provided to Hungary in 2013. The EU explained that Hungary's debt exceeded 3% of GDP, the maximum stipulated by the Excessive Deficit Procedure rules. Hungary expects the EU to reassess the move in June, said Margrethe Vestager, Danish economy minister. At the same time, the EU let Spain to reduce its deficit only to 5.3% of GDP while initially the country had to cut the deficit to 4.4% of GDP.

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