EU welcomes Hungarys steps on central bank.

By bne IntelliNews April 25, 2012
The European Commission (EC) has welcomed the steps taken by Hungarys government to address EU concerns on the independence of the countrys central bank, the spokeswoman of the EC said in a statement following a meeting between EC president Jose Manuel Barroso and Hungary PM Viktor Orban. Solving this issue is considered as a key precondition for launching official talks between Hungary and the IMF on a financial aid agreement. The EC is expected to close the infringement procedure against Hungary, which was initiated in January 2012 on violation of the EU law in terms of central bank independence. The EC sees also progress addressing the two other infringement procedures concerning the retirement age of judges and the independence of the data protection authority. The Commission will discuss further steps in a meeting today (April 25).

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