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HUNGARY AND AZERBAIJAN: UNORTHODOX BAIL OUTS
By Shant Krikorian
hetq
10:19, September 3, 2012
There is no doubt that the recent demise of the Hungarian justice
system has come at the helm of Azeri interest in the Hungarian
bond market.
Only about two weeks ago did the Hungarian State Debt Management Agency
announce its auctioning of treasury bonds in an effort to ease pressure
from the IMF and EU directives.According to portfolio.hu and Hungarian
business and news weekly FigyelĹ', Azerbaijan is currently looking
to buy Hungarian government bonds at two and three year maturity,
estimated at 3billion Euros.
While Hungarian Prime Minister Viktor Orbán's tenure in office
has already been marred by controversy, stop.hu reports that the
Safarov's extradition to Azerbaijan was finally agreed upon during
the prime minister's last visit to Baku, where the case was tied
with Azerbaijan's bond-purchase offer along with future cooperation
in the energy sector.
It still remains unclear what Turkey's possible role in Safarov's
extradition was, as some Hungarian and Armenian news outlets claimed
that Turkey helped facilitate the talks between Hungary and Azerbaijan,
and Turkey, itself has expressed strong interest in cooperating with
Hungarian refinancing measures.
Hungarian opposition parties, including former 2010 presidential
candidate Attila Mesterházy of the Hungarian Socialist Party (MSZP)
was quick to condemn Orbán's actions as damaging to Hungarian and
European-Democratic interests, stating that "the decision has brought
shame to Hungary".
As of Sunday, the Hungarian Socialist Party has initiated requests
for emergency meetings on subjects of constitutional, foreign, and
national security affairs for formulating a coherent investigation
and follow-up to the Safarov case.
From: Baghdasarian
By Shant Krikorian
hetq
10:19, September 3, 2012
There is no doubt that the recent demise of the Hungarian justice
system has come at the helm of Azeri interest in the Hungarian
bond market.
Only about two weeks ago did the Hungarian State Debt Management Agency
announce its auctioning of treasury bonds in an effort to ease pressure
from the IMF and EU directives.According to portfolio.hu and Hungarian
business and news weekly FigyelĹ', Azerbaijan is currently looking
to buy Hungarian government bonds at two and three year maturity,
estimated at 3billion Euros.
While Hungarian Prime Minister Viktor Orbán's tenure in office
has already been marred by controversy, stop.hu reports that the
Safarov's extradition to Azerbaijan was finally agreed upon during
the prime minister's last visit to Baku, where the case was tied
with Azerbaijan's bond-purchase offer along with future cooperation
in the energy sector.
It still remains unclear what Turkey's possible role in Safarov's
extradition was, as some Hungarian and Armenian news outlets claimed
that Turkey helped facilitate the talks between Hungary and Azerbaijan,
and Turkey, itself has expressed strong interest in cooperating with
Hungarian refinancing measures.
Hungarian opposition parties, including former 2010 presidential
candidate Attila Mesterházy of the Hungarian Socialist Party (MSZP)
was quick to condemn Orbán's actions as damaging to Hungarian and
European-Democratic interests, stating that "the decision has brought
shame to Hungary".
As of Sunday, the Hungarian Socialist Party has initiated requests
for emergency meetings on subjects of constitutional, foreign, and
national security affairs for formulating a coherent investigation
and follow-up to the Safarov case.
From: Baghdasarian