Hungary May Demote Simor in ‘Total Takeover’ of Central Bank
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Hungarian Prime Minister Viktor Orban is aiming for a “total takeover” of the central bank through proposals that would infringe on its independence, Magyar Nemzeti Bank President Andras Simor said.
The European Central Bank said it’s concerned about a bill to change the composition of the central bank’s decision-making bodies. A second proposal to merge it with the nation’s financial regulator is “only an option” and approval at a vote in Parliament tomorrow wouldn’t automatically create the combination, Orban said today in Budapest.