Hungary's talks with IMF, EU interrupted

Preparatory talks between Hungary's government, the IMF and the European Union on a precautionary loan were interrupted on Friday, Amadeu Altafaj Tardio, spokesman for Economic and Financial Commissioner Olli Rehn said.

Diplomacy&Trade online | December 16, 2011

The IMF and EU delegation have left Budapest, he said. The talks halted in connection with proposed changes to the Central Bank Act, which the governing Fidesz party tabled for fast-track debate in Parliament on Friday.

"Unfortunately we did not receive assurances concerning the intentions of the Hungarian government, (which went on) to push forward in parliament the vote of the law that could potentially undermine the independence of the central bank," Altafaj Tardio added.

European Union, Hungarian government, International Monetary Fund

Hungary's talks with IMF, EU interrupted

Preparatory talks between Hungary's government, the IMF and the European Union on a precautionary loan were interrupted on Friday, Amadeu Altafaj Tardio, spokesman for Economic and Financial Commissioner Olli Rehn said.

Best of Budapest online | December 16, 2011

The IMF and EU delegation have left Budapest, he said. The talks halted in connection with proposed changes to the Central Bank Act, which the governing Fidesz party tabled for fast-track debate in Parliament on Friday.

"Unfortunately we did not receive assurances concerning the intentions of the Hungarian government, (which went on) to push forward in parliament the vote of the law that could potentially undermine the independence of the central bank," Altafaj Tardio added.