Trigranit ceo calls Hungary Europe's 'weakest link'

Sandor Demjan, chairman of Budapest-based real estate developer Trigranit, said Hungary could be Europe's 'weakest link' within 15 years unless it devotes more European Union funds to development, Magyar Hirlap reported, citing a speech by Demjan.

As head of Hungary's national association of employers and entrepreneurs, Demjan said Hungary's economic reform programme has stalled and the country remains in danger of a financial crisis, the newspaper reported. Demjan urged the Hungarian government to spend its 7 trillion forint ($37 bn) in EU funds to develop small and medium-sized companies rather than on buildings and institutions.