30 October 2012

HUNGARY: Orban Supporters Pass Controversial Voter Registration Amendment; Residency For Bond Purchases Proposed; CBank Cuts Benchmark Again...To 6.25%.


     Controversial and often stubborn PM Viktor Orban has prevailed again.
     He got his supporters in the Congress to amend the nation's constitution...and force citizens to vote only if they register at least 2 weeks in advance...in person or online...and not use the central registry.
     The opposition says the new measure is aimed at the poor and uneducated...and is highly susceptible to fraud.
    AND: Hungary is said to be seeking wealthy foreigners...who might be interested in buying 250,000 euros/$323,000 in government bonds...in exchange for residency. 
       Some Chinese are reportedly closely following the law...proposed by 3 MPs. 

    ALSO: In Budapest...the central bank cut its benchmark interest rate for the 3rd consecutive month...by 25 bps...to 6.25%.