Skip to comments.Defiant Hungary passes disputed central bank law
Posted on 12/30/2011 10:51:06 PM PST by bruinbirdman
Hungarys parliament has adopted a set of controversial laws increasing political influence over the judiciary and the nations central bank, prompting critics to warn that the country is drifting towards a more authoritarian political system.
Hungary defied international concern and adopted Friday central bank reforms and other controversial measures that threaten to leave the country isolated just as its economy needs a bailout.
"Nobody can interfere with Hungarian legislative work, there is no one in the world who might tell the elected deputies of the Hungarian people which act to pass and which not to," Prime Minister Viktor Orban said on Hungarian public radio ahead of the parliamentary session.
Critics say the measure -- which prompted the European Union and International Monetary Fund to walk out of talks this month on a possible bailout for Hungary worth 15-20 billion euros ($20-25 billion) -- will increase government influence over monetary policy.
European Commission head Jose Manuel Barroso had called on Hungary to hold off from adopting the legislation until it is brought into line with EU law.
But lawmakers went ahead and approved, by a vote of 293-4, the bill which adds more political appointees to the monetary-policy setting committee and could see the central bank disappear as a separate institution altogether.
Parliament also adopted a law which holds the opposition Socialists accountable for crimes committed by the former ruling communist party.
The text, branding the former communist party and its successors "criminal organisations", will be enshrined in the new constitution which comes into force on Sunday.
Parliament, where Orban's centre-right Fidesz holds such an overwhelming majority that it has the power to amend the constitution, also adopted new rules that will allow it to approve laws in as little as a day and without substantive debate.
(Excerpt) Read more at france24.com ...
"[Hungary's] Parliament also adopted a law which holds the opposition Socialists accountable for crimes committed by the former ruling communist party.
"The text, branding the former communist party and its successors "criminal organisations", will be enshrined in the new constitution which comes into force on Sunday. "
All done through the ballot.
I will be interested in how the EU, ECB and etc react to such law? We live in interesting times.
The financial reforms don't sound too bright, but the condemnation of socialists is fascinating. 65 years after WWII, it's still a crime in Europe to virtually mention the Nazis -- somehow, though, the Communists got off scot-free.
This really will P.O. the Euros.
Not so much an enigma, eh.
Tito was independent of Russia. So was his successor who wanted nothing to do with EUSSR. Yet, EUSSR changed NATO treaty to allow for offensive defense. Bingo, Yugoslavia was bombed to submission and awaits EUSSR membership.
Hungary, it seems, is having second thoughts about the total socialist commitment to EUSSR.
Vaclav Havel was almost crying when his parliament forced Czech Republic to sign Lisbon Treaty. After 50 years of commie rule, he wanted a U.S. Constitution.
Vaclav Havel? Was he? I thought he was pro EU.
The present president, however, Vaclav Klaus, did his best to delay the signing as long as he could. Vaclav Klaus is also the only political leader in Europe who dares to stand up to the climate hoax.
Just watch whats going on in Europe. There stepping in to control vast sections of the economy not so much as a protection but more as a deliberate result of thier generated crisis and thier power grab for control. We have been teetering here for sometime on purpose. The lynch pin, I believe is in place waiting for the right time to be pulled leaving us in a deliberate similar situation for the same things to happen here. Does anyone think these cretans will go quietly this is their last stand for a long time
I have been following these events closely as well.
Hungary has recognized that if they accept ECB and IMF monies, they lose control over their country.
What the socialists could not do through the ballot box and courts, they are now trying to finish via the banking system.
Hungary wants mortgages backed by Hungarian banks, not German banks. Hungary wants industrial bonds underwritten by Hungarian financial institutions, not Swiss financial institutions, etc, etc.
I'll go with Klaus. All those Vaclavs are OK in my book. What choice do they have?
Those Polish Kaczyński brothers weren't too happy with EUSSR either.
They all get squashed by EU.
Happy New Year