Bloomberg News

Hungary May Submit Central Bank Law Amendment, Nepszabadsag Says

June 12, 2012

Hungary will probably present amendments to a disputed central bank law and lawmakers may vote on them within two weeks, Nepszabadsag said, citing Antal Rogan, head of the ruling Fidesz party’s parliamentary group.

The government regards the European Central Bank’s criticism of the law as “eventually acceptable,” Mihaly Varga, the country’s chief negotiator for an International Monetary Fund loan told the Budapest-based newspaper. He confirmed that a new set of amendments may be submitted to the law. Current talks with the ECB focus on the central bank’s foreign-currency reserves, the politician told Nepszabadsag.

Varga plans to hold consultations with Magyar Nemzeti Bank President Andras Simor and Vice President Ferenc Karvalits on the issue, he said.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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