Karácsony said at a press conference that the EIB loan, which the central government must approve, could be used to buy 50 new trolley buses and 50 trams.

He added that if the government blocks the preferential loan, it would be interpreted as a "declaration of war on the citizens of Budapest."

He called central government promises to take over the financing of a number of big projects in the capital "frivolous." Deputy Mayor Kata Tuttő said Budapest gets "not a single forint" of revenue from personal income tax, VAT or excise tax. "We donʼt want government money, we want the tax revenues that weʼve paid here," she added.