Medgyessy, Peter

A Dictionary of Contemporary World History | 2004 | 700+ words | Copyright

Medgyessy, Peter (b. 19 Oct. 1942). Prime Minister of Hungary, 2002– Born in Budapest, Medgyessy joined the Communist Workers' Party, but following the collapse of communism in 1989 he quit politics. He became a prominent banker, building up Paribras Hungary and becoming Chairman of the Hungarian Development Bank. Although he was now not affiliated to any political party, he was chosen by the centre-left MSZP as Finance Minister in 1996, where he continued policies of fiscal consolidation. He also instituted a pensions reform that greatly increased the involvement of the private sector. After the MSZP's election defeat in 1998, he returned to banking, but in 2002 he was chosen by the MSZP to become its compromise candidate for prime minister. He was predicted to lose against the popular Orban, but in a hotly contested election, the coalition of centre-left parties which he led obtained more parliamentary seats than his rival.

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JAN PALMOWSKI. "Medgyessy, Peter." A Dictionary of Contemporary World History. 2004. Encyclopedia.com. 30 May. 2012 <http://www.encyclopedia.com>.

JAN PALMOWSKI. "Medgyessy, Peter." A Dictionary of Contemporary World History. 2004. Encyclopedia.com. (May 30, 2012). http://www.encyclopedia.com/doc/1O46-MedgyessyPeter.html

JAN PALMOWSKI. "Medgyessy, Peter." A Dictionary of Contemporary World History. 2004. Retrieved May 30, 2012 from Encyclopedia.com: http://www.encyclopedia.com/doc/1O46-MedgyessyPeter.html

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