Monetary council member resigns in Hungary

HUNGARY - Professor Janos Kornai, one of Hungary's most prominent economists, has announced his resignation from his position on the monetary council of the National Bank of Hungary (MNB).

Kornai sent his letter of resignation to President Ferenc Madl on 21 June. In a letter sent to MTI, Kornai wrote that the new central bank act will significantly change the working conditions of the current central bank council (henceforth to be named monetary council), and he cannot reconcile these new cond