Municipalities on the brink of financial failure?

The situation of municipalities facing financial difficulties has been in focus since the 90s. Many studies and articles have been published, moreover several conference or professional days have been organised in connection with the topic which confirm this struggle. Recently the IGE Tanácsadó Kft. specialised for local authority development and financing has organised a conference under the title of "2008: the year of bankruptcy?" with the participation of professionals affected.

Fortunately "the year of bankruptcy" wording cannot be used generally since bankruptcy proceedings have been initiated "only" in case of 30 institutions of the 3200 ones. So the situation is not so critical. The individuals following took part on the conference as a lecturer: Dr. János Princz, the head of Budget Division of Auditors' Chamber ; Dr. Tamás Sepsey (on the right side photo) the vice president of State Audit Office; Dr. Sándor Bújdosó under-secretary of Ministry of Local Government; DR. Tamás Molnár, Director of MKB Bank Zrt.; Dr. Magdolna Schneider, Director of MFB Zrt.; Dr. Gábor Zongor, General Secretary of Cross-Country Allience of Local Governments; Dr. Sándor Varga, Department Head of Ministry of Finance; and Zsolt Király (on the left-side photo) Sales and Marketing Director of Garantiqa Hitelgarancia Zrt.