Hungarian Cabinet Withdraws Central Bank Bill
- 24 May 2012 10:50 AM
The central bank bill has been taken off Parliament’s agenda, due to technical errors, and as a result will not be passed before June. The EU had said that changes to the central bank law are a precondition for talks on an IMF loan. The bill was scheduled to be submitted last Friday, but has been held back due to incorrect numbering in the references.
As a result the central bank law can only be modified sometime during the House’s summer session, likely to begin next month.
The government has informed the European Commission of its plans to modify the law, the Economy Ministry told Népszava.
The government plans to use a different way of changing the law, taking into account proposals from the MNB, the European Central Bank and the European Commission, the ministry said.
News website Index speculates that there may be disagreement within the cabinet over the issue.
Source: Hungary Around the Clock
This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC follow this link and click on 'Free Trial Subscription'.
LATEST NEWS IN business