EC initiates infringement procedure against Hungary
The European Commission said yesterday that it had launched an infringement procedure against Hungary to investigate the countryʼs investor restrictions on farmland, according to Hungarian news agency MTI.
The EC has asked Hungary to submit observations on the law regulating farmland purchases in a "letter of formal notice", a step that is the first stage of the infringement procedure. The EC said provisions in the law "may be considered to restrict the free movement of capital and freedom of establishment", according to EU law.
It noted that any restrictions on these basic freedoms must "be justified and comply with the principles of non-discrimination and proportionality", adding that "while Member States are permitted to set their own rules to promote rural development, to keep land in agricultural use and avoid speculative pressure on land prices, this must be done within the limits of EU law."
Hungary Gasoline Prices 3% Over Regional Avg
Gov't Considering Fuel Price Intervention
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
