Hungary's parliament asked to delay vote on central bank law
(BUDAPEST) - Hungary's chief negotiator with the IMF and European Union asked parliament late Saturday to postpone a new vote on a disputed central bank law, following criticism from the European Central Bank.
New amendments to the controversial law were passed last week in response to widespread criticism over a radical shake-up of the way Hungary runs its central bank, with the final package due to be put to a vote in parliament on Monday.
However, the ECB criticised the amendments Thursday as insufficient, noting the new law "still fails to address a number of previously highlighted concerns as regards the independence" of Hungary's central bank.
Mihaly Varga, Budapest's new chief negotiator in credit line talks with the International Monetary Fund and EU, thus asked the caucus leader of the governing Fidesz party, Antal Rogan, for Monday's vote to be pushed back.
Rogan had already said Friday following the ECB's reaction that further alterations could be made before parliament finally voted on the controversial law.
Budapest is seeking a credit line of 15-20 billion euros ($20-25 billion) from the EU and IMF, but talks have stalled over disputed legislation on the central bank, the media and the judiciary.
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