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Hungary to Probably Opt-Out of EU Banking Union, Szasz Says

Hungary will probably seek an opt-out from the single European Union banking supervisory, which the bloc is working on setting up, as non-euro members would probably have a “subservient” role, said Karoly Szasz, head of Hungary’s financial regulator.

In case of an opt-out, Hungary will need to strengthen its financial regulatory framework and may need to consider a merger of the central bank and the financial regulator, Szasz told a conference in Eger today.

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