The administration of George W Bush is well known for being awash with former petroleum industry executives. That’s fitting, some say, for a country that slurps up more oil than any other. So perhaps it is appropriate that one of the most overbanked countries in Europe – Hungary – should get a banker as its new prime minister.
Sworn in on May 27 at the head of a Socialist-led coalition cabinet, 59-year-old Peter Medgyessy was from 1990 to 1994 the head of the local office of Paribas, and then Inter-Europa Bank from 1998.
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