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Bloomberg
Hungary’s central bank, already facing criticism for a spending spree ranging from real estate to fine art, is now beefing up its security force, citing Europe’s migrant crisis and potential bomb threats among the reasons.
The National Bank of Hungary bought 200,000 rounds of live ammunition and 112 handguns for its security company.
Additional protection is needed due to the rise of “international security risks” including bomb and terror threats and migration, central bank Governor Gyorgy Matolcsy said. The central bank’s assumption of the role of financial regulator and the related increase in the number of its properties also contributed to the need for further defenses, he said. The security measures added to public scrutiny of the running of the bank, which under Matolcsy earmarked 200 billion forint ($718 million) to set up foundations to teach alternatives to what he called “outdated neoliberal†economics. Another $108 million fund used for buying fine art including a painting by Titian also drew criticism from opposition parties, as did a series of investments in office buildings and villas.