 So good morning, ladies and gentlemen, the chairman president and distinguished guests. We agree that probably I will have a short presentation here on the basic ideas and targets of the Hungarian presidency of the European Union. And then if you are interested in, I'm more than happy to be involved into a consultation question and answers. So ladies and gentlemen, first term as a prime minister, I had between 1998 and 2002. And when my first term as prime minister of Hungary came to an end, may I say the waters deliberated me from the office in the early 2000s, I left the leadership of a candidate country about to enter a very optimistic, hopeful European Union that was full of dynamism. In the beginning of the 2000s, we saw that the following 10 or 15 years would be the great decade of prosperity of the European Union. We had a good reason to think, to think so or think that, as the European Union did indeed have a great decade between 1990 and 2002. First we reunified the two parts of the continent that used to be torn apart. The own currency of the European Union, the euro could be created. In the beginning of the 2000s, the objective that the European Union should be the most competitive economy of the world by 2010 did not appear to be illusory. Perhaps now it seems a little odd. We were fueled by enthusiasm in the early 2000s. We could talk about a market of 500 million people, a market covering 500 million people, the largest single market of the world. Nine or ten years have passed since then. If we were to give a short summary of the current position of the European Union in the world economy, then any speaker should point out the following. The Union has lost a substantial part of its share in the global economy. The rate of public debt is extremely high in the member states of the European Union. The rate of activity is specifically low within the European Union. The average of the European Union is somewhere around 66-65% while the same rate is 75-85% in the United States and China respectively. And we cannot ignore the fact that demographic problems have appeared over the last 10 years, which caused our continent much suffering. So when it was Hungary's turn to take over the presidency work of the European Union, the Hungarian presidency set out from the assumption that we really had no more time to waste. The Union must face the most difficult issues and the most serious challenges, therefore we choose the most difficult questions when putting together the programme of the Hungarian presidency. We undertook for this six-month period, first to introduce the pieces of legislation that allow the coordination of economic governance, or the economic governance of the national economies, with the objective of protecting the common currency, the euro. Second, we also set as an objective that the European energy market should be created because the European Union is an economic entity that covers 55% of its energy needs from outside the Union. There are many supply islands and we don't have a unified common energy market. We wanted to see a change in this during the Hungarian presidency. Another objective set was that we should bring the new financial regulatory system closer to the set targets. Despite the ever-increasing anti-enlargement sentiments in Europe, we targeted the further enlargement of the Union, we wanted to complete the accession negotiations with Croatia during the Hungarian presidency, and we also wanted to complete the enlargement of the Schengen Zone with Romania and Bulgaria. We also set the objective that Europe should have a common strategy for the Romans in Europe, and social inclusion should be elevated to the level of the European Union. And finally, we also held an informal council meeting for ministers responsible for family issues to take the first steps towards making sure that the governments of Europe do some joint thinking about solving demographic issues and that a collection of best practices in successful family policies should be compiled for other member states of the European Union. This was the programme of the Hungarian presidency. It is a traditional wisdom in the Union that the most difficult questions are not the ones that you can foresee, but it is always the unexpected event. That turned out to be the biggest challenges. This also happened to the Hungarian presidency, beyond the toppings I have listed, we also had the crisis in North Africa coming our way, and then the disaster in Japan as well. So ladies and gentlemen, as a result of all these, the European Union must unfortunately face the serious question if it will react to these challenges by stepping back from the results of integration achieved thus far, or by progressing further on the road to integration. We will be able to protect and regulate our common currency, the euro, more efficiently than today. Are we serious about maintaining the free flow of persons? Do we enlarge the circle of countries that enjoy this liberty? And finally, do we take at least one more step towards the further enlargement of the European Union, where we see the Balkans as the direction to go, because the Balkans constitute a region of Europe that is surrounded by NATO and European Union member states? It not about pushing the borders eastwards, but our task is about making an enclave fit for accession. Ladies and gentlemen, from this point, from this perspective of the challenges that Europe faces, can it be understood what is happening in Hungary? So let me tell you a few words about Hungary, because the challenges that Hungary is facing cannot be separated from those of the European Union. You also know that in 2008, Hungary was the first national economy to collapse within the territory of the European Union. So that privilege does not belong to the Greeks. Financial collapse happened first in Hungary, 2008, to be followed only one and half or two years later by other dramatic setbacks within the European Union, including your own country's difficulties. Also the state crumbled in Hungary in the meantime. Corruption proliferated and grew stronger. The incompetence of public administration grew. Using the rules became a way of life, be that public safety or tax avoidance. As a result of all these, my country, Hungary, suffered a complete loss of confidence, both domestically with its own citizens and in the international arena. What was the response of Hungarians to this situation? The response of Hungarians was unprecedented unity. Hungary and voters created the political unity that remains rare and even unprecedented today. A unity that generated admiration on the one hand, envy on the other hand, and also suspicion. In the language of parliamentary representation, we call this a two-third majority in the parliament for one party. A unity of two words in the parliament is what we have in Hungarian politics. In the year of crisis management before the elections, one month's worth of pensions were taken away from the people. One month's worth of salary was cut from people working in public administration. The retirement age was increased from 62 to 65 years, and the deficit of the Hungarian budget was still 7.5% in the summer of 2010. That was when Hungary launched a large-scale financial consideration exercise and the turnaround of the budget. Also we started to complete reorganization of the country because we became the recognition that Hungary in her current structure was unfit to become a competitive economy within the European Union. This is why we announced the transition. We started the transition from a welfare society model to a work-fare society model. In this spirit, we have completely reorganized or are in fact reorganizing right now the system of unemployment benefits, social welfare benefits, education, pension system, and I could go on. We have introduced a 16% income flat tax. We have cut the corporate tax rate for companies up to tax of 500 million foreigns, which is the Hungarian currency. We have started building a completely new pension system. We have launched a program to reduce the state debt, and the rate of public debt will be reduced from the current 82% of GDP to the 70% of GDP by the end of 2014. Simultaneously, we also took a very difficult decision. Here in Ireland, I clearly do not need to spend much time outlining the various approaches to financial crisis management. One of the first decisions of my government was that we had to do everything we could do to return to the international money markets. We must reach the point when Hungary is no longer funded by international financial institutions but the money markets on the basis of commercial considerations. Of course, the opinions of the leaders of international organizations are also important. But when it comes to money, we trust the market's opinion more. We believe that the country stands firm on its feet only if it can supply money to its economy on its own right, from the money market by offering proper return, instead of receiving money for its financial needs from international institutions against certain conditions. So we ended our cooperation with IMF and returned to the financial markets. And I can tell you today in June 2011 that Hungary has already secured on the markets all the funds it needs to satisfy its payment obligations in 2011 as a consequence of a massive bond issue. This autumn, we will be working on how we can raise funding for our payment obligations in 2012. If you think back that Hungary was leading the list of countries in the biggest trouble, we were before Greece as I mentioned, in the summer of 2010. And if you look at the current situation, then it is clear that Hungary is no longer mentioned with the countries that represent an immediate financial and funding risk. So ladies and gentlemen, I think this is a point when I should and I could stop. This is the list of the points of the program of the European Union Presidency of Hungary. This is the understanding of the Hungarians of the European situation. These are the consequences we drone from the developments we have seen in the European Union concerning our country. This is the way how we try to become one of the most competitive economy of the European Union. May I just add as a last remark that Hungary is not alone by that kind of attempt. If you remember back rightly to the period prior to the financial crisis, Central Europe played a very essential and important role for the European Union, because the economic growth rate was far the highest in Central Europe. Central Europe was from the Baltic Sea down to the Adriatic, the gross engine of the European Union. That time even Germany was lower in that respect than the Central European countries. And my understanding is that after this financial crisis or getting closer to the end of this crisis, Central Europe will play again a very important role for the European Union in two terms. First as an engine of economic growth and second to have the European Union big manufacturer companies, industrial companies to keep their potential and the sets inside the territory of the European Union. Of course we are happy to see that they are moving to Central European area, I mean the foreign investors. It's good for us, but if we are sinking in the framework of the interest of the European Union, it's good for the European Union as well not to let the companies go to China or Brazil or South America or somewhere else instead of staying in the territory of the European Union. So I think Central Europe in the future will have a strong mission for the European Union as well. Thank you President. Thank you very much.