Sunday, January 22, 2012

Over 100,000 rally in Hungary to back government in EU row

(Reuters) - More than 100,000 people rallied Saturday in a show of support for the embattled Hungarian government, as it prepares to compromise in a bitter row with the European Union to secure a vital loan.

Labeled a "March of Peace" the demonstration was by far the largest rally since the government took power in May 2010, in what analysts said was a reminder that Prime Minister Viktor Orban's Fidesz party remains a potent political force.

Orban's center-right government, accused by Brussels of threatening the independence of the media, judiciary and central bank, backed down earlier this week, aiming to prop up its battered forint currency and keep access to financial markets.

The government has said it will work out details of necessary legal changes by Monday after the European Commission started infringement procedures in the three areas, saying Budapest's new laws failed to comply with EU rules. Read More