Hungary and the EU

Latest business news about Hungary and the European Union.

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Hungary bars foreigners from buying farmland — 22 December 2012, 23:32 CET

Hungary has amended its constitution to bar foreigners from buying farmland, a move the government called "historic," but one that could cause friction with the European Union.

Hungary wades into Greece-Macedonia naming row — 17 December 2012, 18:53 CET

Hungary took a stand Monday in a virulent dispute between Greece and Macedonia, announcing it recognised the latter as the "Republic of Macedonia" despite a naming row that has seen Athens block its neighbour's bid to join the EU.

Hungary to scrap controversial 'crisis' taxes — 22 November 2012, 10:49 CET

Hungary announced late Wednesday that it will do away with controversial "crisis taxes" on the retail and telecommunications sectors from January 2013, after the European Union (EU) called for them to be scrapped.

EU rejects Hungary wine-naming suit against Slovakia — 08 November 2012, 22:26 CET

The European Court of Justice on Thursday rejected a lawsuit brought by Hungary against Slovakia over the disputed naming of wines from the Tokaj region along the two countries' border.

EU court blasts Hungary over forced retirement of judges — 06 November 2012, 16:28 CET

Europe's Court of Justice on Tuesday slammed a controversial Hungarian law forcing judges to retire at 62 instead of 70, a move seen by the opposition as tightening the government's grip on the judiciary.

Hungary redoubles austerity efforts — 17 October 2012, 17:33 CET

Hungary's government announced new austerity measures on Wednesday, almost doubling a package of savings announced only two weeks ago which the European Union found to be insufficient.

Hungary close to 'good deal' with IMF: PM Orban — 12 October 2012, 13:24 CET

Hungary is close to striking a good deal with the International Monetary Fund (IMF) on a 15-billion-euro ($19 billion) credit line, Prime Minister Viktor Orban said on Friday, just days after an anti-IMF ad campaign.

Hungary PM tells Merkel not against euro in principle — 11 October 2012, 17:09 CET

Hungary is not opposed to joining the euro in principle, but believes it would not be beneficial to do so at the moment, the country's prime minister Viktor Orban said here on Thursday.

Hungary sees no obligation to join euro: PM — 10 October 2012, 17:52 CET

Hungary is under no obligation to join the euro and doing so at the current juncture would be "irresponsible", the country's prime minister Viktor Orban said in a newspaper interview Wednesday.

Hungary, Romania show need for new EU rule of law benchmark — 12 September 2012, 18:51 CET

Recent worries over democratic values in Hungary and Romania highlight the need for the European Union to set new benchmarks to safeguard the rule of law, the EU's Justice Commissioner said on Wednesday.

EU's Schulz 'disturbed' by Azerbaijan's pardon of axe killer — 04 September 2012, 17:07 CET

European Parliament head Martin Schulz expressed horror Tuesday after Azerbaijan brushed aside criticism of its pardon for a soldier who axed an Armenian officer to death in his sleep.

Hungarian PM blames EU for economic crisis — 29 July 2012, 23:26 CET

Hungarian Prime Minister Victor Orban lashed out at the European Union for failing to solve the bloc's economic crisis on Saturday, a day after calling for a new economic system.

Hungary says aid deal possible by year end — 26 July 2012, 15:36 CET

Hungary's long-delayed efforts to secure 15-billion-euro ($18.4 billion) stand-by credit line from the IMF and EU could be completed by the end of the year, Budapest's chief negotiator said Thursday.

Hungary's Orban says EU-IMF visit 'encouraging' — 25 July 2012, 17:37 CET

Hungarian Prime Minister Viktor Orban said Wednesday that a visit by the International Monetary Fund and European Union to discuss a possible 15-billion-euro ($18.4 billion) credit line was "encouraging."

EU closes Hungary central bank infringement case — 19 July 2012, 15:46 CET

The European Commission on Thursday formally closed infringement proceedings launched in January over the independence of the Hungarian central bank, the Magyar Nemzeti Bank (MNB).

European Jewish students sue Hungarian far-right website — 18 July 2012, 20:35 CET

The European Union of Jewish Students on Wednesday said it was suing a Hungarian far-right website that had tried to collect information on Jewish protesters attending an anti-Nazi rally.

Hungary amends judicial law after EU criticism — 05 July 2012, 22:27 CET

Hungary's parliament has adopted amendments to its law on the judiciarythat will limit the authority of a new body, which European officials had said was excessive.

Hungary 'ready to respect' central bank independence: ECB — 29 June 2012, 15:37 CET

The European Central Bank said on Friday that amendments by Hungary to its central bank law will help allay concerns about political interference at the Magyar Nemzeti Bank.

EU unlocks frozen funds for Hungary — 22 June 2012, 17:47 CET

The European Union lifted on Friday a heavy financial penalty on Hungary after the country took steps to put its public finances in order.

Hungary: country overview — 19 June 2012, 11:53 CET

Hungary has made the transition from a centrally planned to a market economy, with a per capita income nearly two-thirds that of the EU-25 average.

Hungary PM for 27 solutions to EU problems — 12 June 2012, 21:07 CET

Europe's current problems require more diverse and creative solutions, said Hungarian Prime Minister Viktor Orban Tuesday, whose government has complained of Brussels' encroaching power.

Excessive Deficit Procedure recommendations on Bulgaria, Germany and Hungary - guide — 30 May 2012, 16:24 CET

Along with the country-specific recommendations and the conclusions of the in-depth reviews, the European Commission is today also making three proposals to the Council related to the Excessive Deficit Procedure (EDP). Firstly, the Commission is recommending that the Council abrogate the EDP for Bulgaria and Germany, as foreseen in Article 126(12) of the Treaty. In March, Bulgaria and Germany notified that their 2011 general government deficit was below 3% of GDP. Following the validation of these figures by Eurostat on 23 April 2012, and also taking into account that the Commission's 2012 spring forecast shows that these deficits will remain durably below 3% of GDP, the Commission has concluded that the correction of their excessive deficits is ensured. Secondly, the Commission has adopted a proposal for a Council decision to lift the suspension of commitments from the Cohesion Fund for Hungary, after concluding that the country has taken the necessary action to correct its excessive deficit, in line with the Council Recommendation of 13 March 2012. More specifically, the Commission has concluded in its assessment that the 2012 budget deficit target of 2.5% of GDP is expected to be reached and the 2013 budget deficit is expected to be well below the 3% of GDP reference value, despite the slight weakening of the macroeconomic environment, as indicated by the Commission in its 2012 spring forecast. The Commission will continue to closely monitor budgetary developments in Hungary, in accordance with the Stability and Growth Pact.

Hungary seeks EUR 15 bn from IMF/EU — 16 May 2012, 12:01 CET

Hungary's newly appointed negotiator for aid talks specified Wednesday that Budapest was seeking a stand-by credit line from the International Monetary Fund and European Union of 15 billion euros.

Council of Europe says Hungary must do more on media law — 15 May 2012, 23:57 CET

Hungary's proposed amendments to its controversial media law are a step in the right direction, but more needs to be done, the chief of the Council of Europe said on Tuesday.

Central European nations agree to set up joint combat force — 04 May 2012, 21:12 CET

Defence ministers from Visegrad Group states grouping the Czech Republic, Hungary, Poland and Slovakia agreed Friday to create a 3,000-strong joint combat unit to be put at the EU's disposal.