Constitutional Court upholds rejection of referendum on Paks Russian loan deal

July 8, 2014

constitutional

Hungary’s Constitutional Court has rejected a complaint filed by opposition party Together-PM in connection with the rejection of a referendum plan on the Paks Russian loan deal.  The decision rules out the possibility of a referendum being held on the EUR 10 billion loan from Russia, proceeds of which are purportedly to be used to finance the development of two 1200 MW reactors at Paks atomic power plant.