Matolcsy to head of National Bank

Matolcsy György

Matolcsy György

Today it’s breaking news but it was breaking news before. So now it’s not that big anymore.

A month ago FIDESZ (ruling party) leaked the infromation that they want Matolcsy György (financial minister back then) as the lead of the Hungarian National Bank.

Everyone was genuenly upset because this man lives in his own little world which has no intersection with the real one. Anything he says is complete bull..beep… – says the majority of Hungary.

He is the one with whom the IMF refused to negotiate a year ago.

In the last month everybody seemed to know he was going to be the new MNB president so today it was not particularly shocking to find out.

György Matolcsy (born 18 July 1955 in Budapest) is a Hungarian politician, current Minister of National Economy from 29 May 2010. Matolcsy was also Minister of Economy during the first cabinet of Viktor Orbán.

In 1977 he graduated from the Faculty of the Karl Marx University of Economics of Industry in Budapest, and in 1981 received a PhD in economics at the University of Economics in Budapest. He worked as an expert in economic institutions.

In 1990 he became for a brief period of parliamentary secretary in the Prime Minister József Antall period. In 1991-1994 he was a representative of the Hungarian Government, the European Bank for Reconstruction and Development in London, including a deputy director in the period 1991-1994, and in 1994 director of the bank. After returning to the country was among others Fidesz‘s economic expert, member of the National Assembly, and in 2000-2002, minister of economy. In 2003 he joined the Fidesz. On May 29, 2010 he became minister of national economy in the second Orbán cabinet.

He said in October 2011 the return to talks with IMF would be a “clear sign of weakness”.[1] He also said in the Parliament on 14 November 2011, just four days before the ministry’s announcement, in a response to a Jobbik politician, “the government forming its economic policy against this three-letter institution [IMF].”[1] On 17 November 2011 the Ministry of National Economy said government is starting negotiations on a new type of cooperation with the International Monetary Fund (IMF) in the course of scheduled consultations.[2]

He is the author of publications in the field of economics.


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About the Author: Chris Kovacs

Technical Consultant, Traveller, Filmmaker & Photographer
Much like most people, I like to be all sorts of things.

P.S.: some of articles are edited and co-written by a mysterious person called Tatjana. But I take all the credit.

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