The Hungarian government revealed that USD 242 bn have been transferred from Hungary to offshore havens between 1970 and 2010. This amount, it pointedly remarks, is twice the Hungarian national debt. As András Giró-Szász, Government Spokesperson said, the government wants to put an end to capital circumventing the Hungarian tax system. He estimated that €3.4bn may currently be stashed in Swiss offshore accounts. Hungary is also on the The Observer’s list of the top 20 countries for capital flight.
