Public funds are public funds, says Curia

March 30, 2016


Hungary’s supreme court, the Curia, today upheld a ruling by a lower court ordering the National Bank of Hungary (MNB) to disclose how it has spent public funds, reports The Curia’s decision is final and cannot be appealed.

According to the Curia, any organization that uses public funds must account for their use. The second-level court had earlier ruled that the foundations owned by the central bank provide a public service with public funds, and for this reason do not lose their status as public funds despite being squirreled away in private foundations.

The MNB-owned Pallas Athéné foundations challenged the second-level court’s earlier decision and pushed for an appeal at the Curia.

Hungary’s Constitutional Court is expected to hand down a decision tomorrow regarding the controversial bill passed by parliament (but not signed into law by President János Áder) on whether money given to the MNB’s foundations loses its status as public funds.