Press Release: Commission closes infringement procedure on the independence of the Hungarian central bank

The European Commission has formally closed the infringement procedure launched against Hungary on 17 January 2012 over the independence of its central bank, Magyar Nemzeti Bank (MNB). The decision was made possible thanks to the adoption by the Hungarian Parliament of legal amendments to the central bank statute on 6 July, in line with the commitments Prime Minister Orbán made to President Barroso at their meeting on 24 April.