Hungary asks IMF and EU for financial aid

Hungary has asked the International Monetary Fund (IMF) and the European Union (EU) for financial aid as its debt pile grows and its currency weakens.

Official figures show the Hungarian governmment's total debt has risen to 82% of its output, as its currency, the forint, has weakened in the face of the European debt crisis, the BBC reports. Hungary has said it wants "a new type of co-operation" with the IMF, which is now considering its request. The IMF confirmed that it and the European Commission had received a request for assistance, according to the BBC. IMF managing director Christine Lagarde said: "The IMF has received a request from the Hungarian authorities for possible financial assistance. The authorities have sent a s...