17 December 2011

HUNGARY / IMF / EU : Loan Aid Talks End Over C.Bank Independence Dispute.


     PM Viktor Orban desperately wants some E15-20bn in loan aid backup from the IMF and EU.
     But Orban seemingly won't back down from legislation that pressures the central bank to promote growth...and threatens its independence.
    Thus...the IMF and EU have ended talks.
    In November...Moody's lowered Hungary's sovereign debt...to 'junk'.