European Commission pursues Hungarian central bank independence issue

The European Commission today (March 7), released a statement asking the Hungarian government to provide more details about its plans to alter a controversial law that poses a threat to the independence of the National Bank of Hungary.

After receiving replies to three letters of formal notice, the Commission stated in the release: "The promise to change Hungary's legislation affecting the independence of the central bank addresses some of the key concerns of the Commission. Now Hungary needs to