MNB brushes off criticism of real estate purchases
DO NOT USE, TOO SMALL
The National Bank of Hungary (MNB) on Wednesday said accusations made against it because of recent real estate purchases were "baseless" and "politically motivated". The MNB said the purchases had "produced public assets from public monies". It added that the purchases were in line with the practices of other central banks, citing retreats and recreational facilities owned by the central banks of Germany and Austria.
The MNB specifically mentioned criticism of its property purchases by Zoltán Bodnár, "politicking in the colors of the Hungarian Liberal Party" in a number of Hungarian media in the previous weeks. It noted that when Bodnár was an MNB deputy governor, between 1995 and 1998, the central bank had far more pieces of recreational real estate: 18 in all, including two in Croatia.
At present, the MNB owns four pieces of recreational real estate.
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.