Hungary's central bank just bought 200,000 rounds of live ammunition and 112 hand guns



Laszlo Balogh/Reuters

Thousands of rubber ducks in front of the Parliament in Budapest, Hungary.

Hungary's central bank is boosting its security force.


The National Bank of Hungary bought 200,000 rounds of live ammunition and 112 handguns for its security company, reported Bloomberg's Zoltan Simon.

More protection is needed given the rise of "international security risks" such as potential bomb threats and the migration crisis, central bank Governor Gyorgy Matolcsy wrote on the Parliament's website in response to a lawmaker's query about the purchases.

Notably, Hungary moved to shutter its borders amid the ongoing migration crisis in Europe.

At first the decision was met with criticism but in more recent months gained some acceptance.


By comparison, Angela Merkel's decision to let in the refugees has been heavily criticized and has weakened her political position at home and in Europe overall.

As for Hungary's central bank, the bank has also recently designated about $700 million to set up foundations to teach alternatives to what Matolcsy calls "outdated neoliberal" economics.

Additionally, the bank was under criticism for another $108 million fund used for buying art, including a painting by 16th century Venetian artist Titian.

Check out the full story at Bloomberg »

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