Opposition alliance reports alleged Matolcsy leak

Parliament

The left-wing opposition alliance has filed a criminal report against an unknown perpetrator for insider trading, an alliance politician said on Tuesday. Levente Pápa said the alliance suspects former economy minister György Matolcsy told bankers of Goldman Sachs that Hungary had turned to the IMF for assistance before the move was announced.

 The business lunch with the bankers and the revelation was described in a recently published book by Matolcsy's former cabinet chief, Helga Wiedermann. An official statement from the National Bank of Hungary (MNB), which is now headed by Matolcsy, called the account “fictitious.”

“The economy minister could not have told investors that Hungary would approach the IMF, but he referred to that option as one among several others,” the central bank said.

Pápa said the Unity alliance had turned to the chief prosecutor on the matter, which could not be investigated by the MNB, Hungary's financial market regulator, because its governor is the subject of the probe. He added that the alliance would take the case to regulators in the UK and US if Hungarian authorities do not produce results.

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