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The IMF and the EU stopped negotiations with the Hungarian government, because
- the Hungarian government wanted to fulfil the requirements of other organisations.
- the Hungarian government didn't want to tell them about the exact plans for the country's budget.
- the Hungarian government demanded more money from the organisations.
The EU and the IMF wanted the Hungarian government
- to raise taxes on banks and other financial institutions and to lower taxes on state-owned companies.
- to raise its incomes, cut expenditures and carry out reforms on state-owned companies.
- to raise its revenues by Ft 200bn a year over the next two years.
The IMF wasn't happy that
- S�ndor Cs�nyi, head of Hungary's largest bank was in South Africa with prime minister Viktor Orb�n.
- the prime minister was more interested in the Word Cup final than the delegation's arrival.
- Mr. Orb�n's key economics adviser was excluded from the town while the delegation was there.
- a change was made to tax law that allows seven insurance companies not to pay the tax.
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http://online-angol.hu/conversation_lesson/intermediate_level/lesson1/step2.php
The article says that
- the previous government fell because of last year's fiscal consolidation.
- banking tax is a good basis for sound fiscal policy.
- Fidesz is so stubborn because of pressure from the society.
- Jobbik is as obeisant to the etiquette of international finance as Fidesz. |
