Hostile Reaction By Hungary’s Ruling Party Fidesz To ECB
- 7 Aug 2014 9:00 AM
The opinion expressed by the European Central Bank (ECB) on Tuesday on Hungary’s new law on foreign currency loans is another way of exerting pressure on Hungary, ultimately coming from foreign-owned banks, Fidesz said in a statement issued Wednesday evening.
Rejecting the ECB’s criticism that Hungary had not honoured its obligation to consult it about the legislation, Fidesz said there is no obligation to consult, as the legislation does not affect the law on the central bank.
Fidesz stressed that its caucus, the Kúria and the European Court of Justice are on the side of foreign-currency debtors.
The Justice Ministry said earlier on Wednesday that the cabinet will reply to the ECB next week, and that inter-ministerial talks are under way on the content of the letter.
Source: Hungary Around the Clock
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