CRISIS: HUNGARY, GOVERNMENT SAYS NO NEW AUSTERITY MEASURES

Hungarian Economy Minister Gyorgy Matolcsy excludes taking new austerity measures in addition to those adopted. The specification comes after negotiations between Budapest, the IMF and the EU Commission on the revision of the 20 billion Euro financing agreement reached in October 2008 were suspended. The suspension of talks is connected to Budapest’s refusal to revise its economic policy and especially its bank taxing policy, an issue of concern for the IMF and the EU.

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