![]() ![]() ![]() Earlier this month US Secretary of State Hillary Clinton voiced concerns over democratic freedoms in Hungary in a letter to Orban. Orban, whose centre-right Fidesz party swept to power in April 2010, has used his two-thirds majority in parliament to curb the rights of Hungary’s top court, tighten the government’s grip over the media, and revamp the electoral system. Prime Minister Viktor Orban refused an EU request to withdraw the bill, saying he would not take orders from Brussels. “These new bills create the possibility for influence over central bank decision making based on government and party interests, which … goes against… the basic treaty of the European Union,” the bank said in a statement. The could prevent talks with international lenders going ahead in January and which the central bank itself described as a threat to the country’s economic stability. Hungary, which is following a much criticised unorthodox economic policy, now looks unlikely to be able to obtain a new funding deal from the IMF. The IMF and EU opposed the move saying it would give the government too much influence over central bank policy. Hungary has defied objections from the International Monetary Fund and the European Union and the parliament has adopted a new law regulating the country’s central bank. ![]()
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