Budapest Assembly Meets on Insolvency as Hungary’s Orban Offers Lifeline

Hungarian Prime Minister Viktor Orban said he’s ready to throw a financial lifeline to Budapest, where the opposition leadership blames the government’s tax policies for pushing the capital city to the brink of insolvency.

The Budapest assembly will hold an extraordinary meeting on Monday at the government’s request to adopt a resolution declaring the risk of insolvency before the end of the year, according a draft filed by Mayor Gergely Karacsony.