European Commission green-lights financial aid talks
The European Commission is ready to close the infringement procedure against Hungary concerning the central bank, paving the way for talks to begin on IMF/EU financial aid, a spokesperson told the press in Brussels on Wednesday.
"Guarantees have been provided by the Hungarian authorities vis-a-vis the independence of the central bank [...] which means that the Commission is today prepared to discuss financial assistance as requested by Hungary from the EU and the IMF last November," commission spokesman Olivier Bailly told reporters.
In a separate statement, the commission said Hungary had taken "sufficient action" and its "decision has been taken in light of commitments by Hungary, confirmed by PM Orban yesterday after his meeting with President Barroso, to take tangible steps to ensure compliance with EU law [...]"
It added that Hungarian authorities have committed to continue consultations with the European Central Bank in view of finding an agreement on unresolved issues.
Hungary has also committed to address promptly and fully the recommendations of the Venice Commission on key priority areas in the field of the judiciary reform, the Commission said.
The forint firmed sharply against the euro from 291.67 to 286.57 after the decision was announced, close to its 2012 record rate of 285.56.