Hungary has become a frontrunner in terms of fiscal stability, Prime Minister Gordon Bajnai said in an interview published by the online edition of Newsweek on Friday.

Asked about the impact of the economic crisis in Hungary, he said, "Hungarians are used to crisis, and so far we have avoided meltdowns. Last October, when the crisis hit us, Hungary was seen as a risk because a significant number of people had foreign-currency debts and the potential of our economy had been reduced by a lack of reform. But we were one of the first countries to turn to the IMF and the European Commission. And that put the floor under the risk of financial free fall."

Concerning the ways of restoring confidence, Bajnai said, "we quickly introduced three major reforms in pensions, taxes and social aid. We expect to have a 3.8 percent budget deficit next year -- one of the smallest in Europe. Bank interest rates are significantly below pre-crisis levels. JPMorgan says Hungary may be the first of the Polish-Czech-Hungarian trio to introduce the euro, while Merrill Lynch says Hungary may come out of the crisis in the strongest fiscal position of all OECD countries. We have become a frontrunner in terms of fiscal stability."

The premier noted that Hungary had been the first EU member to ratify the Lisbon Treaty. He added that if "Europe wants to maintain its geopolitical influence it needs to retain its economic influence by strengthening its competitiveness. That will require more flexible political management, and this is what Lisbon is bringing about."

Asked if the 27 EU countries can agree on foreign policy, Bajnai said, "a key aspect of the Lisbon Treaty is that Europe is now potentially able to have one voice on foreign affairs. One of the lessons of this crisis is that we need more coordination on a global level. There are certain issues where European countries clearly have a common interest. Climate change is a good example."

The prime minister called the forthcoming Copenhagen climate summit a unique opportunity, the last chance for a long time to do something about climate change. He said that the minimum result should be a principal agreement that can be turned into a practical arrangement in the coming months.

"Without that, we will be missing a huge chance for the world," he said.