In a first, Europeans act to suspend aid to Hungary unless it cuts deficit
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"The decision to take a somewhat tougher line with Hungary, by threatening to suspend cohesion funds, is not a case of double standards," said Simon Tilford, the chief economist at the CER. "The Spanish have not been guilty of mismanaging their economy, whereas that can hardly be said of Hungary."
Mr Tilford added, "Fiscal austerity of the order originally required by the E.U. would have simply pushed the Spanish economy into a slump."