Orbán stands firm in central bank dispute / EU agrees to open IMF talks with Hungary

Article reported that Viktor Orbán, Hungary’s Prime Minister, was refusing to cede ground to the European Commission in a dispute over central bank independence, preventing Budapest from starting talks on an emergency credit line.

The heated stand-off between the Commission and the Hungarian government reached a critical point on the 24 April 2012 as Mr Orbán laid down his red lines in person to José Manuel Barroso, the European Commission President.

On the 25 April 2012 the Commission assessed that Hungary had taken sufficient action and commitments to enter into negotiations on precautionary balance of payment assistance.

EurActiv, 24.4.12: In Brussels, Orbán poses as a 'promoter of the European project' http://www.euractiv.com/future-eu/orb-tells-eu-learn-hungary-news-512326

EurActiv, 25.4.12: EU to drop Hungary bank case, uphold action over judiciary http://www.euractiv.com/euro-finance/eu-drop-hungary-case-uphold-action-judiciary-news-512350

ESO: Background information: Budging Budapest http://www.europeansources.info/record/budging-budapest/

ESO: Background information: Orbán reprimanded by EU over budget http://www.europeansources.info/record/orban-reprimanded-by-eu-over-budget/

ESO: Background information: Brussels seeks more answers from Hungary http://www.europeansources.info/record/brussels-seeks-more-answers-from-hungary/

European Commission: RAPID: Press release, IP/12/407: Commission decides to enter into negotiations on precautionary financial assistance with Hungary http://europa.eu/rapid/pressReleasesAction.do?reference=IP/12/407&format=PDF&aged=0&language=EN&guiLanguage=en

European Commission: RAPID: Press Release: IP/12/395: Hungary - infringements: European Commission satisfied with changes to central bank statute, but refers Hungary to the Court of Justice on the independence of the data protection authority and measures affecting the judiciary http://europa.eu/rapid/pressReleasesAction.do?reference=IP/12/395&format=PDF&aged=0&language=EN&guiLanguage=en

BBC News, 25.4.12: Hungary concession opens way to EU bailout http://www.bbc.co.uk/news/business-17843534

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