Hungary hoping to benefit from Brexit

The Hungarian government is hoping to lure several important European Union institutions and large Western organizations from London to Hungary due to the fallout from Brexit, claims Hungary Minister of National Economy Mihály Varga.

Varga told Magyar Idők that Hungary has already submitted an application to host the EU’s bank supervising authority, and intends to compete for the Union’s pharmaceutical authority as well.

“There are a number of EU bodies with headquarters currently in London, and these authorities will certainly relocate to other countries,” stated Varga, noting that it would increase Hungary’s role and influence within the EU if one or more of them found a new home in Budapest.