EBRD official criticises Hungarian pension reforms
HUNGARY - Pension reforms in Hungary have been branded 'half-baked' by a senior official from the European Bank for Reconstruction and Development (EBRD).
Speaking at a briefing in Hungary, Zsuzsanna Hargitai, head of the Hungarian office of EBRD, said there was still scope for further reforms. She said EBRD wanted to see the government move to introduce...
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Hungary to cancel $7.5bn of bonds after pensions takeover
HUNGARY - Hungary will cancel about 1.5trn forint ($7.5bn) of bonds after taking over the assets of privately managed pension funds to "immediately" cut indebtedness, according to the Debt Management Agency.
Hungary pension changes were 'negative,' - Moody's
HUNGARY - Hungary's decision to bring the majority of private-pension savings under state control was "credit negative" and a key factor behind downgrading the country's debt rating, Moody's Investor Service said.
CEE Stock Exchange sees slump in Budapest trading on pensions
EUROPE - The CEE Stock Exchange Group, which includes bourses in Vienna, Budapest, Prague and Ljubljana, said trading volumes may drop this year in the Hungarian capital following the nationalisation of private pension funds.
Hungary private-pension funds keep 102,000 members, cabinet says
HUNGARY - Hungarian private-pension funds retained 102,000 clients, or about 3.2% of their previous membership, by yesterday's deadline in the government's drive to funnel their assets to the state, said Gabriella Selmeczi, the government commissioner...
Hungarian schemes call on European Commission to fight new law
HUNGARY - Hungary's Stabilitas Fund Association has written to the European Commission requesting "immediate help" in fighting the government's pension reform plans.
