Wall Street Journal: What comes next in Hungary – frozen bank accounts?
“[…] The parliament Tuesday passed a bill that scraps the Constitutional Court’s jurisdiction in matters of taxation, tax-like contributions and customs levies, except if they infringe rights to life and human dignity. […]
Although the modification to the Constitutional Court’s rights doesn’t take away the court’s powers regarding some fundamental human rights, it won’t be allowed to rule on the right to property in budget and tax matters any longer.
As a result of excluding the right to property, the court won’t have the legal grounds to probe the government’s plan to withhold Hungarians’ mandatory private pension fund contributions until the end of 2011, again, to plug budget revenue holes. […]
The only question left is; what will the government do next to meet budget deficit targets once one’s right to property doesn’t officially exist any more in the eye of the state. Let’s hope it won’t get ideas from Argentina, which froze bank accounts in 2001 to shore up its finances.”