Hungary rejects amendments to bank levy

Central- & Eastern EuropeHungary ♦ Published: July 7, 2010; 00:00 ♦ (Vindobona)

At the start of negotiations with the International Monetary Fund (IMF), the Hungarian government ruled out an amendment of the introduction of the controversial bank tax.

Hungary rejects amendments to bank levy / Picture: ©

“For this year, there will be no more negotiations with the banks, "said the Hungarian Economics Minister Gyorgy Matolcsy.

As reported, Hungary plans to introduce a levy of 0.45 per cent on total assets. Foreign banks approached IMF with a request for assistance. The government in Budapest already submitted a legislation draft to Parliament. Accordingly, the first installment…