The amendments affect some provisions in the law objected to by the EU in the ongoing infringement proceedings.

The changes state that no cabinet representative will attend National Bank (MNB) meetings, while clauses on dismissing monetary council members will be removed from the act.

In addition, the MNB will not be merged with the financial regulatory body Pszáf, and the agenda of the monetary council need not be sent to the cabinet.

The EU has acknowledged the amendments in writing.

Further progress on the issue is expected when Prime Minister Viktor Orbán meets with European Commission President José Manuel Barroso on Monday.

The EU infringement proceedings against Hungary will not be on the agenda of the Commission’s weekly meeting today, sources in Brussels told HVG."

Source: Hungary Around the Clock

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