„How exactly did Hungary shoot itself in the foot? A new bill submitted to parliament Wednesday would transfer the power to appoint the bank’s deputy governors to the government, and away from the bank’s governor. Among other measures, it would also force the bank’s board to notify the government in advance of its meetings’ agendas.
That makes the IMF, EU and investors all uneasy. Worse, it overshadows one of the few recent forint-positive policy steps, namely an agreement between the government and Hungary’s banking association to cut the volume of foreign-currency debt. And it certainly doesn’t make a currency which has fallen more than 14% against the euro since July any more popular.”