Hungary’s Orban Ready for EU Talks on Central Bank Law, MTI Says

Hungarian Prime Minister Viktor Orban is open to consultations with European Union authorities on the country’s central bank law, MTI reported yesterday, citing Peter Szijjarto, Orban’s spokesman.

Orban wrote a letter to European Commission President Jose Manuel Barroso saying the law approved by Hungary’s parliament yesterday incorporated the “vast majority” of suggestions from the European Central Bank and is in line with EU law, Szijjarto told the state-run news service.

The government doesn’t plan to use its power to merge the central bank and the financial regulator during the term of central bank President Andras Simor, MTI reported.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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