Hungary Won’t Default, Will Service Debt, Lazar Tells FN24

Hungary won’t default and the country will continue to fully service its debt, Janos Lazar, head of the ruling Fidesz party’s parliamentary group, told news website fn24.hu.

Lazar added that assuming Hungary might default was “absurd,” the news site reported.

The European Union and the International Monetary Fund suspended aid talks with Hungary last month, citing legislation that may curb the independence of the central bank. The EU has no plans at the moment to resume talks, European Commission spokesman Olivier Bailly said yesterday.

Lazar also told the news service he was confident Hungary will reach an agreement with the EU on all disputed issues, even if “some blows may be exchanged in the meanwhile.”

The government of Prime Minister Viktor Orban will reach the half way of its four-year mandate in July and a cabinet reshuffle may take place, Lazar told fn24.hu.

To contact the reporter on this story: Edith Balazs in Budapest at ebalazs1@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

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