The European Union and the International Monetary Fund have confirmed that Hungary has approached them seeking “precautionary” assistance as its borrowing costs climb.
The bloc and the Washington-based lender on Monday acknowledged that they had received a request from Budapest for help, although no details or projections of the required funds were revealed.
The move is a sharp U-turn on the part of Prime Minister Victor Orban conservative and staunchly nationalistic government.
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login