(Image Source: euronews)
BY EMOKE BEBIAK
ANCHOR LAUREN GORES
Hungary’s government is under fire from the European Union. On Tuesday, the EU launched infringement proceedings against the country. Euronews reports.
“Brussels has begun legal action against Hungary and get forcing it to undo changes to its new constitution.”
The new legislation undermines the Hungarian Central Bank’s independence in an effort to control the country’s debt problems, which have been worsened by fluctuations in exchange rates. The BBC explains,
“Critics say the new central bank law puts the bank's independence at risk. It allows [Prime Minister Viktor] Orban to install a new deputy governor.”
The European Commission has launched the infringement proceeding on three counts. Origo.hu has an explanation of those counts from President of the European Commission José Manuel Barroso’s announcement. Barroso specifies the following issues:
“...the independence of the National Central Bank, the retirement age of judges and the independence of the Data Protection Authority.”
Radio Free Europe/Radio Liberty explains the procedure against Hungary saying...
“In a so-called infringement procedure, the European Commission formally requests changes to the national laws in question. If those requests are ignored it can take the country to the European Court of Justice and levy fines.”
Hungary is an EU member but not part of the Euro-zone. The Telegraph explains Hungary needs to act quickly to avoid getting into a financial deadlock saying...
“Failure to comply with the EU means that Hungary is also stalled in its efforts to negotiate financial assistance from international lenders as it tackles the threat of insolvency.”
In an answer to threats by the European Union, pro-government groups held rallies over the weekend. According to The Wall Street Journal, government sympathizers spoke up against foreign involvement in the country’s domestic politics and some groups even called for Hungary to leave the EU. (Video credit: YouTube/Jobbikvideok)
Hungary’s Prime Minister is scheduled to meet Barroso in Brussels next week.
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