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Hungarian National Bank
The Hungarian National Bank ( , MNB) is the central bank of Hungary and as such part of the European System of Central Banks (ESCB). It was established in 1924 as a successor entity of the Austro-Hungarian Bank, under the economic assistance provided to Hungary by the Economic and Financial Organization of the League of Nations. The bank calls itself the Magyar Nemzeti Bank in its English communications and occasionally clarifies that name with the expression ''the central bank of Hungary''. The bank doesn't call itself the ''Hungarian National Bank'' in English. The Hungarian National Bank lays special emphasis on its international relations and on participation in the professional forums of international economic institutions and financial organisations (EU, IMF, OECD, BIS). Its principal aim is price stability, but it is also responsible for issuing the national currency, the Hungarian forint, controlling the money in circulation, setting the Central Bank base rate, publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Liberty Square (Budapest)
Liberty Square (, ) is a public square located in the Lipótváros neighborhood of Budapest, Hungary. The square is a mix of business and residential. The United States Embassy in Hungary and the historicist style headquarters of the Hungarian National Bank abut the west side of the square. Some buildings on the square are designed in the Art Nouveau style. Ignác Alpár designed two of the buildings. The square houses monuments to Ronald Reagan and Harry Hill Bandholtz and a monument to the Soviet liberation of Hungary in World War II from Nazi German occupation. In 2020, together with the United States Embassy, it built a large statue of US Pres. George H.W. Bush. Some of the monuments like the WWII liberation sculpture were designed by Károly Antal. The Memorial for Victims of the German Occupation portrays Hungary as an angel being attacked by Germany in the form of an eagle -- symbolism that obscures Hungary's willing participation in the Holocaust. A counter-monument ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Financial Market Infrastructure
Financial market infrastructure refers to systems and entities involved in Clearing (finance), clearing, Settlement (finance), settlement, and the recording of payments, Security (finance), securities, Derivative (finance), derivatives, and other financial transactions. Depending on context, financial market infrastructure may refer to the category in general, or to individual companies or entities (thus also used in plural: financial market infrastructures). Examples Examples of financial market infrastructure firms include payment systems, Settlement (finance), securities settlement systems, Central counterparty clearing, central counterparties, Central securities depository, central securities depositories, and Trade Repository, trade repositories. Some financial infrastructures have a global reach, such as financial messaging service SWIFT, foreign-exchange settlement service provider CLS Group, and international central securities depositories Euroclear Bank and Clearstream ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the real versus nominal value (economics), real value of the local currency, as the prices of all goods increase. This causes people to minimize their holdings in that currency as they usually switch to more stable foreign currencies. Effective capital controls and currency substitution ("dollarization") are the orthodox solutions to ending short-term hyperinflation; however, there are significant social and economic costs to these policies. Ineffective implementations of these solutions often exacerbate the situation. Many governments choose to attempt to solve structural issues without resorting to those solutions, with the goal of bringing inflation down slowly while minimizing social costs of further economic shocks; however, this can lead to a prolonged period of high inflation. Unlike low inflation, where the process of rising prices is protracted and not generally noticeab ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Austro-Hungarian Krone
The krone (alternatively crown; , , , , , , , , , ) was the official currency of Austria-Hungary from 1892 (when it replaced the Austro-Hungarian gulden, gulden as part of the adoption of the gold standard) until the dissolution of the empire in 1918. The subunit was one hundredth of the main unit, and was called a in the Austrian and a in the Hungarian part of the Empire. Name The official name of the currency was (, plural, pl. ) in Austria and in Hungary. The Latin form (plural ), abbreviated to on the smaller coins, was used for the coinage of the mostly German-speaking part of the empire known as Cisleithania. Currency names in other ethnic languages were also recognised and appeared on the banknotes: (pl. ) in Czech language, Czech, (pl. ) in Polish language, Polish, , (pl. , ) in Ukrainian language, Ukrainian, (pl. ) in Italian language, Italian, (pl. ) in Slovene language, Slovene, / (singular and plural) in Serbo-Croatian, (pl. ) in Slovak language, Slov ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Hungarian Korona
The Hungarian korona (Hungarian: ''magyar korona''; ''korona'' in English is "crown") was the replacement currency of the Austro-Hungarian Krone/korona amongst the boundaries of the newly created post-World War I Hungary. It suffered a serious inflation and was replaced by the pengő on 1 January 1927. Introduction According to the Treaty of Trianon and other treaties regulating the situation of countries emerging from the ruins of the dissolved Austro-Hungarian Empire, the former banknotes had to be overstamped by the new states and — after a given transition-period — replaced by a new currency. In the case of Hungary, this currency was the korona, which replaced its Austro-Hungarian counterpart at par. Hungary was the last country to fulfil the replacement obligation of the treaties and the stamps used for overstamping were very easy to copy, so a large portion of the common currency circulated in Hungary was fake. This was a factor contributing to the process which finall ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
World War I
World War I or the First World War (28 July 1914 – 11 November 1918), also known as the Great War, was a World war, global conflict between two coalitions: the Allies of World War I, Allies (or Entente) and the Central Powers. Fighting took place mainly in European theatre of World War I, Europe and the Middle Eastern theatre of World War I, Middle East, as well as in parts of African theatre of World War I, Africa and the Asian and Pacific theatre of World War I, Asia-Pacific, and in Europe was characterised by trench warfare; the widespread use of Artillery of World War I, artillery, machine guns, and Chemical weapons in World War I, chemical weapons (gas); and the introductions of Tanks in World War I, tanks and Aviation in World War I, aircraft. World War I was one of the List of wars by death toll, deadliest conflicts in history, resulting in an estimated World War I casualties, 10 million military dead and more than 20 million wounded, plus some 10 million civilian de ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
József Róna
József Róna (1 February 1861, Lovasberény – 31 December 1939, Budapest) was a Hungarian sculptor and artist. Biography Róna's best known wood carving, ''Joseph and Potiphar's Wife'', also won him the Gold Prize. His major sculptural work was the Monument of Prince Eugene of Savoy in Buda Castle. The equestrian statue is standing on the Danube terrace, in a prominent position, high above Budapest. The Neo-Baroque statue was made for the town of Zenta but the town could not afford its price. The monument was bought in 1900 by the master-builder of the Royal Castle, Alajos Hauszmann as a temporary solution until the planned equestrian statue of King Franz Joseph will be completed. This never happened so Prince Eugen remained on his plinth. Other works include the statues of ''Zrinyi'' in Budapest, ''Bertalan Szemere'', ''Kossuth'' in Miskolc and ''Klapka'' in Komárom (today Komárno, Slovakia). Róna was known to be a member of the Benczúr Society. Many of his wo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Ignác Alpár
Ignác Alpár József (born Schöckl József; 17 January 1855 in Pest, Hungary, Pest – 27 April 1928 in Zürich) was a Hungary, Hungarian architect.Ignác Alpár Hungarian Electronic Library, retrieved 6 May 2012 Career Alpár began his career as a stonemason, then worked under architect Alajos Hauszmann. After completing formal studies in Berlin, he returned to Budapest to work under Imre Steindl and Hauszmann again. He began independent practice in 1890, working mainly on public projects in a historicist, eclectic style. The most well known of these is the so-called Vajdahunyad Castle built for the millenary celebrations in 1896, which incorporated architectural styles practised in Hungary from the Middle Ages to the Baroque period.Buildings * Town halls: Sighişoara, Cl ...[...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Lands Of The Crown Of Saint Stephen
The Lands of the Crown of Saint Stephen (), informally Transleithania (meaning the lands or region "beyond" the Leitha River), were the Hungarian territories of Austria-Hungary, throughout the latter's entire existence (30 March 1867 – 16 November 1918), and which disintegrated following its dissolution. The name referenced the historic coronation crown of Hungary, known as the Crown of Saint Stephen of Hungary, which had a symbolic importance to the Kingdom of Hungary. According to the First Article of the Croatian–Hungarian Settlement of 1868, this territory, also called Arch-Kingdom of Hungary (, pursuant to Medieval Latin terminology), was officially defined as "a state union of the Kingdom of Hungary and the Triune Kingdom of Croatia, Slavonia and Dalmatia". Though Dalmatia actually lay outside the Lands of the Crown of Saint Stephen, being part of Cisleithania, the Austrian half of the empire, it was nevertheless included in its name, due to a long political c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Cisleithania
Cisleithania, officially The Kingdoms and Lands Represented in the Imperial Council (), was the northern and western part of Austria-Hungary, the Dual Monarchy created in the Compromise of 1867—as distinguished from ''Transleithania'' (i.e., the Hungarian Lands of the Crown of Saint Stephen east of beyond"the Leitha River). This name for the region was a common, but unofficial one. The Cisleithanian capital was Vienna, the residence of the Austrian emperor. The territory had a population of 28,571,900 in 1910. It reached from Vorarlberg in the west to the Kingdom of Galicia and Lodomeria and the Duchy of Bukovina (today part of Ukraine and Romania) in the east, as well as from the Kingdom of Bohemia in the north to the Kingdom of Dalmatia (today part of Croatia and Montenegro) in the south. It comprised the current States of Austria (except for Burgenland), as well as most of the territories of the Czech Republic and Slovenia (except for Prekmurje), southern Poland, Tr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Vienna
Vienna ( ; ; ) is the capital city, capital, List of largest cities in Austria, most populous city, and one of Federal states of Austria, nine federal states of Austria. It is Austria's primate city, with just over two million inhabitants. Its larger metropolitan area has a population of nearly 2.9 million, representing nearly one-third of the country's population. Vienna is the Culture of Austria, cultural, Economy of Austria, economic, and Politics of Austria, political center of the country, the List of cities in the European Union by population within city limits, fifth-largest city by population in the European Union, and the most-populous of the List of cities and towns on the river Danube, cities on the river Danube. The city lies on the eastern edge of the Vienna Woods (''Wienerwald''), the northeasternmost foothills of the Alps, that separate Vienna from the more western parts of Austria, at the transition to the Pannonian Basin. It sits on the Danube, and is ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
Hungarian General Credit Bank
The Hungarian General Credit Bank (, MÁH, , also known as Creditbank) was a major bank in Hungary, from its establishment in 1867 by the Rothschild family until its nationalization in 1948. History Background The Rothschild family was involved early on in financing operations in Hungary, including by providing a sixth of the equity capital for the construction of the iconic Széchenyi Chain Bridge and refinancing its cost overruns in the 1840s. In 1857, the Rothschild-sponsored Creditanstalt bank opened a branch in Pest, Hungary, Pest. Austro-Hungarian era The Hungarian General Credit Bank had its shares first traded on the Vienna Stock Exchange on , ahead of its formal registration by the Hungarian Commercial and Exchange Court of Pest on . In 1871, it took over the local branch of Creditanstalt. In 1873, it received a mandate from the recently created finance ministry for a range of transactions, which made it effectively the main banker of the Hungarian government; that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] [Amazon] |
