Hungary told to lift cap on central bankers’ pay

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The European Commission has demanded Hungary lift a pay cap on public employees that has affected staff at the country's central bank, otherwise face the prospect of legal action.

In a letter sent to the Gábor Ivan, Hungary's representative to the European Union, on Friday, Marco Buti, the directorate-general for Economic and Financial Affairs at the European Commission, raised concerns over the drastic cuts in salaries of staff at the National Bank of Hungary. He said the pay cuts were an "infr

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