Hungarian PM attacks EU for ‘blackmail’ over latest IMF loan

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AFP/Yahoo! News
April 14, 2012

Hungarian Prime Minister Viktor Orban attacked the European Union for imposing political conditions on an EU-IMF loan desperately needed by Budapest, in an interview on Friday.

“Creating political conditions — for example over the justice system — would amount to blackmail, which is unacceptable within the European Union,” Orban told national radio MR1 in his weekly interview.

“The International Monetary Fund (IMF) does not set financial conditions, but the EU is flirting with the idea of imposing political conditions,” Orban added.

Hungary asked the International Monetary Fund and European Union for a 15-20 billion euro ($20-26 billion) credit line last November, as the forint dropped to record low levels against the euro and borrowing costs rose to record highs.

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