Hungary's Suranyi says pay cuts against the law

A decision by then-finance minister Zsigmond Jarai to slash the bonuses of the leaders of the National Bank of Hungary (MNB) is a signal that Jarai's appointment as MNB governor will reduce the central bank's independence, outgoing governor Gyorgy Suranyi said in parliament's audit committee according to press reports.

In May 2000, Jarai initiated halving the bonuses of Suranyi, MNB's management and the members of the supervisory board of MNB's Vienna-based subsidiary CW Bank, arguing that th