Budget Crisis Threatens Budapest’s Public Services, City Hall Rejects Insolvency Ultimatum
- 2 Dec 2025 6:15 AM
The financial stability of Budapest is currently at the centre of a fierce political standoff between the City Assembly and the national government. The dispute intensified this week after Mayor Gergely Karácsony and the city administration rejected a government proposal to declare the capital insolvent, an act the government had framed as a prerequisite for offering financial aid.
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