Hungarian Social Forum applauds government for being tough with IMF


The Hungarian Social Forum welcomed the Hungarian government's actions regarding the IMF.

"The government proved to be responsible towards Hungarian citizens living from their work by not giving in to the European Union's demands on introducing further austerity measures in exchange for receiving the remaining part of the stand-by loan,” the press release by the Hungarian Social Forum (MSzF) reads. The forum also welcomed that the government insisted on the planned extraordinary bank tax.

“International creditors should acknowledge that Hungary’s stability is not only a budgetary issue but also a social one, which also affects the international financial systems and the stability of Europe as well,” Endre Simó, organizer of the MSzF told the press on Sunday.

The interruption to the talks should not be overdramatized, as negotiations will go on, and will hopefully lead to a compromise that is advantageous for the Hungarian society, the press release stated.

According to Simó, the fact that banks are gradually drawn under state control all over the world strengthened the negotiating position of the Hungarian government at the talks with the European Commission and the IMF. Strengthening Hungary’s position by creating jobs and improving the state of small- and medium-sized companies serves the interest of the Hungarian society, the MSzF said. “It is necessary to mobilize our inner resources in order to protect Hungary from a new attack against the Hungarian currency the speculative capital is about to launch because of the interrupted IMF talks,” Simó said.

Hungary Needs Locally-produced Sustainable Energy Green Energy

Hungary Needs Locally-produced Sustainable Energy

Hungary Condemns Iranian Attack on Israel Int’l Relations

Hungary Condemns Iranian Attack on Israel

Automotive Sector Output Edges up 1.6% in February Automotive

Automotive Sector Output Edges up 1.6% in February

Chresten Bruun Wins Expat CEO of the Year Award Awards

Chresten Bruun Wins Expat CEO of the Year Award


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.