Péter Medgyessy

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Péter Medgyessy
The 5th Prime Minister of Hungary
In office May 27, 2002 – September 29, 2004
Preceded by	Viktor Orbán
Succeeded by	Ferenc Gyurcsány

Born	October 19, 1942 Budapest
Political party	MSZP (social democratic)
Spouse	Katalin Csaplár

Péter Medgyessy (help·info) (born October 19, 1942, Budapest) is a Hungarian politician and was the Prime Minister of Hungary from May 27, 2002 until September 29, 2004, not completing his term. On August 25, 2004 he resigned over disputes with coalition partner Alliance of Free Democrats, but remained caretaker Prime Minister for a 30-days period as required by the Constitution, and a few additional days until his successor Ferenc Gyurcsány was confirmed by Parliament.

[edit] Biography

Born in Budapest, Medgyessy studied theoretical economics at the Corvinus University of Budapest (then called Karl Marx University of Economic Sciences). He graduated in 1966, then returned to receive his doctorate. He is fluent in French and Romanian, and knowledgeable in the English and Russian languages.

Between 1966 and 1982, he held various senior positions in departments of the Ministry of Finance. In 1982, he became Deputy Minister of Finance, and in 1987, he became Minister of Finance. His tax system created Hungary's move toward a free market economy.

Between 1988 and 1990, Medgyessy was the Deputy Prime Minister for economic affairs, and between 1990 and 1996, he was CEO and Chairman of various Hungarian banks. After Gyula Horn took over the Hungarian government, Medgyessy returned to his previous position as Minister of Finance, in 1996. After his term ended, he became Chairman of the Board of Directors of the Inter-Europa Bank, and Vice President of Atlasz Insurance Company; he held these positions from 1998 to 2001.

He received the Commander's Cross with a Star of the Order of Merit in 1998, and the highest French decoration, the Chevalier of the Legion of Honour in 2000.

Although he was not a party member, the Hungarian Socialist Party (MSZP) nominated him as their candidate for prime minister. The party won the 2002 elections, and on May 27, 2002, the Hungarian Parliament elected Medgyessy as the Prime Minister of Hungary.

Magyar Nemzet, a newspaper affiliated with the opposition party Fidesz, revealed in 2002 that Medgyessy had acted as a counterespionage officer under the code name D-209 in the III./II. section of the then Ministry for Internal Affairs prior to 1989. Medgyessy admitted to this, stating that his duties lay in the defense of Hungary from the KGB and securing Hungary's IMF membership, which the Soviet Union opposed. However, given the political climate of the time, this is highly controversial.

On August 19, 2004, due to impaired confidence in him by the coalition partner Alliance of Free Democrats (SZDSZ), he declared his resignation. His party, the Hungarian Socialist Party (MSZP) accepted it on the same day, so in effect the government bowed out, which is without precedent in the history of Hungary's young democracy.

The resignation took effect on August 25, and in accordance with the Hungarian Constitution he became "managing Prime Minister" for the next 30 days. In the meantime his successor, Ferenc Gyurcsány, acted on his behalf.

[edit] Current activities

He currently continues to serve Hungary as a Member of Parliament in the role of travelling Ambassador. He states that he will never back down from this objective: "To make sure Hungary can become successful members of the most important international alliances including the European Union."

He is married to Katalin Csaplár. He has a daughter born in 1969 and a son born in 1970 from a previous marriage.