Secrecy over MNB funds sparks constitutional dispute
Unanswered questions over Hungarian central bank funds have led to legal and constitutional battles
The two most recent annual reports published by the European Central Bank (ECB) contained detailed and, in some cases, unprecedented criticism of a European Union state's central bank. The institution in the ECB's firing line was not a Eurosystem member forced into a loose interpretation of European rules in a bid to ensure short-term stability. Instead, it was the Central Bank of Hungary, the Magyar Nemzeti Bank (MNB). Hungary belongs to the EU, but has not adopted the euro. Its central bank
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