EU expected to decide on controversial Hungary reforms

January 17, 2012 § Leave a comment

This Just In

The European Commission is expected to issue a decision Tuesday on whether it considers certain reforms introduced by Hungarian Prime Minister Viktor Orban’s government to be legal.

Both the European Union and and International Monetary Fund have said they will refuse to extend aid to Hungary, which is struggling financially, unless the government in Budapest guarantees the independence of the central bank.

The organizations say they are concerned the Hungarian government will have undue influence over monetary policy.

European Commission President Jose Manuel Barroso wrote to Orban in December requesting the withdrawal of two recent bills related to the country’s financial stability and the central bank. Orban rejected the requests.

The EU has raised the prospect of taking Hungary to the European Court of Justice, Europe’s highest court, over Orban’s constitutional overhaul.

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