EU Threatens Action Over Hungarian Banking Laws

Law360, New York (January 11, 2012, 5:31 PM EST) -- The European Commission warned the Hungarian government on Wednesday that it could face legal action within the week if it does not change authoritarian-leaning policies over banking and other subjects in its new constitution that are contrary to European Union law.

The EU's executive body said it may exercise its authority to bring legal action over three issues in the new Hungarian Constitution: the lack of independence of the national central bank or of the national data protection authority as well as measures changing the mandatory...
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