EU threatens legal action against Hungary

Wednesday 11 January 2012 16:43 GMT

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The European Union stepped up the pressure today against Hungary, saying its fiscal policies were unsustainable and threatening legal action over a new constitution that some fear could push the country back into authoritarianism.

The new constitution came into force just weeks after Hungarian Prime Minister Viktor Orban's government requested financial aid from the EU and the IMF. The two institutions broke off preliminary talks on the rescue package in December, after voicing fears that the new laws compromised the independence of Hungary's central bank. EU treaties demand that central banks are independent.

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