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By Markus Salzmann:
21 September 2012
The Hungarian government led by Prime Minister Victor Orban of the right wing Civic Union (Fidesz) is planning further austerity measures to meet demands made by the International Monetary Fund (IMF) as the condition for further loans.
Speaking on behalf of the Hungarian government, Mihaly Varga declared that the IMF would get details this week on the new austerity measures. “With this letter we want to make clear that the Hungarian government is willing to continue talks,” Varga declared, adding that the talks were due to resume next month.
During their last visit in July, representatives from the IMF and the European Union made absolutely clear that Hungary had to implement further austerity measures in order to achieve its budget targets for 2013. Until…
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