The European Commission started legal action against Hungary on January 17, related to new legislation that came into force at the beginning of the year that threatens the independence of the National Bank of Hungary (NBH). The Hungarian authorities now have one month to respond to the commission's concerns.
"We hoped the Hungarian authorities would make the changes necessary to guarantee respect of European Union (EU) law," José Manuel Barroso, president of the European Commission, said in a st
- Auditors find ‘flaws’ in ECB’s crisis management framework
- Home truths on Europe’s NPLs
- Central banks lack ‘firepower’ to combat financial crises, says report
- Economists need to better understand macrofinancial links – BIS paper
- Ukrainian bank owners carried out ‘co-ordinated fraud’, forensic audit says