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Hungarian National Bank
The Hungarian National Bank ( hu, Magyar Nemzeti 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 Ba ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liberty Square (Budapest)
Liberty Square ( hu, Szabadság tér) 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 |
Hungarian General Credit Bank
The Hungarian General Credit Bank ( hu, Magyar Általános Hitelbank, MÁH, german: Ungarische Allgemeine Kreditbank, 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. 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bank For International Settlements
The Bank for International Settlements (BIS) is an international financial institution owned by central banks that "fosters international monetary and financial cooperation and serves as a bank for central banks". The BIS carries out its work through its meetings, programmes and through the Basel Process – hosting international groups pursuing global financial stability and facilitating their interaction. It also provides banking services, but only to central banks and other international organizations. It is based in Basel, Switzerland, with representative offices in Hong Kong and Mexico City. History The BIS was established in 1930 by an intergovernmental agreement between Germany, Belgium, France, the United Kingdom, Italy, Japan, the United States, and Switzerland. It opened its doors in Basel, Switzerland, on 17 May 1930. The BIS was originally intended to facilitate reparations imposed on Germany by the Treaty of Versailles after World War I, and to act as the truste ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Pengő
The pengő (; sometimes written as ''pengo'' or ''pengoe'' in English) was the currency of Kingdom of Hungary (1920–46), Hungary between 1 January 1927, when it replaced the Hungarian korona, korona, and 31 July 1946, when it was replaced by the Hungarian forint, forint. The pengő was subdivided into 100 fillér. Although the introduction of the pengő was part of a post-World War I stabilisation program, the currency survived for only 20 years and experienced the most serious case of hyperinflation ever recorded. Name The Hungarian participle ''pengő'' means 'ringing' (which in turn derives from the verb ''peng'', an Onomatopoeia, onomatopoeic word equivalent to English 'ring') and was used from the 15th to the 17th century to refer to silver coins making a ringing sound when struck on a hard surface, thus indicating their precious metal content. (The onomatopoeic word used for gold coins is ''csengő'', an equivalent of English 'clinking' meaning a sharper sound; the particip ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austrian First Republic
The First Austrian Republic (german: Erste Österreichische Republik), officially the Republic of Austria, was created after the signing of the Treaty of Saint-Germain-en-Laye on 10 September 1919—the settlement after the end of World War I which ended the Habsburg rump state of Republic of German-Austria—and ended with the establishment of the Austrofascist Federal State of Austria based upon a dictatorship of Engelbert Dollfuss and the Fatherland's Front in 1934. The Republic's constitution was enacted on 1 October 1920 and amended on 7 December 1929. The republican period was increasingly marked by violent strife between those with left-wing and right-wing views, leading to the July Revolt of 1927 and the Austrian Civil War of 1934. Foundation In September 1919, the rump state of German-Austria– now effectively reduced to the Alpine and Danubian crownlands of the Austrian Empire – was given reduced borders by the Treaty of Saint Germain, which ceded German-po ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
League Of Nations
The League of Nations (french: link=no, Société des Nations ) was the first worldwide intergovernmental organisation whose principal mission was to maintain world peace. It was founded on 10 January 1920 by the Paris Peace Conference that ended the First World War. The main organization ceased operations on 20 April 1946 but many of its components were relocated into the new United Nations. The League's primary goals were stated in its Covenant. They included preventing wars through collective security and disarmament and settling international disputes through negotiation and arbitration. Its other concerns included labour conditions, just treatment of native inhabitants, human and drug trafficking, the arms trade, global health, prisoners of war, and protection of minorities in Europe. The Covenant of the League of Nations was signed on 28 June 1919 as Part I of the Treaty of Versailles, and it became effective together with the rest of the Treaty on 10 January 1920. T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hyperinflation
In economics, hyperinflation is a very high and typically accelerating inflation. It quickly erodes the 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. When measured in stable foreign currencies, prices typically remain stable. Unlike low inflation, where the process of rising prices is protracted and not generally noticeable except by studying past market prices, hyperinflation sees a rapid and continuing increase in nominal prices, the nominal cost of goods, and in the supply of currency. Typically, however, the general price level rises even more rapidly than the money supply as people try ridding themselves of the devaluing currency as quickly as possible. As this happens, the real stock of money (i.e., the amount of circulating money divided by the price level) decreases considerably.Bernholz, Peter 2003, chapter 5.3 Almost all ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Austro-Hungarian Krone
The crown (german: Krone, hu, korona, it, Corona, pl, korona, sl, krona, sh, kruna, cz, koruna, sk, koruna, ro, coroană) was the official currency of Austria-Hungary from 1892 (when it replaced the florin 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 German and a in Hungarian. Name The official name of the currency was (, 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, (pl. ) in Polish, , (pl. , ) in Ukrainian, (pl. ) in Italian, (pl. ) in Slovene, (pl. ) in Croatian, , (singular and plural) in Serbian, (pl. ) in Slovak, and (pl. ) in Romanian. These terms all translate to the Englis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 finally le ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Ignác Alpár
Ignác Alpár József (born Schöckl József; 17 January 1855 in Pest – 27 April 1928 in Zürich) was a Hungarian architect.Ignác Alpár , retrieved 6 May 2012 Career Alpár began his career as a stonemason, then worked under architect . After completing formal studies in , he returned to |
