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BRUSSELS, July 6, 2012 (EuropaPress)
The European Commission and the International Monetary Fund (IMF) will send a mission to Budapest next July 17 in order to start negotiations on a preventive credit line to help Hungary cope with the increased costs of financing, as announced Economic Affairs spokesman, Olivier Bailly.
The dialogue is unlocked after the Hungarian parliament on Friday approved the legislative amendments required by Brussels and the IMF to ensure the independence of the central bank.
"The Commission welcomes the vote in the Hungarian parliament approved the amendments to the central bank law," said the spokesman.
"This law contains the information required by the European Commission's infringement procedure by the three institutions-Commission, IMF and European Central Bank, which form the working group set up to dialogue with the Hungarian authorities on these issues," Bailly stressed.
Hungary originally requested this credit line preventive-that figure at around 15,000 million euros last November. But talks stalled following a complaint by Brussels that the legislative reforms of the Constitution and implemented by the government of Viktor Orban questioned the central bank independence.
Once the amendments voted on Friday to take effect, the EU executive will file the record definitely opened against Budapest and "both the Commission and the IMF will soon begin joint negotiations on the preventive program," said Bailly.
"This provided a joint mission of the Commission and the IMF in Budapest on July 17," added the spokesman, who has called on the government of Victor Orban "openness" in negotiations "to ensure a successful outcome."
The EU executive has other two cases opened with Hungary for questioning the independence of the judiciary and the data protection agency.
