Press Release

The Hungarian American Coalition is saddened by the resignation last week of Paul Teleki, one of its distinguished founding members, from his position as President and Managing Director of the State Holding Company (AVRt.)

Mr. Teleki symbolized the commitment of the Hungarian American community to actively participate in Hungary’s transformation from a centrally planned economy to a free market system. His work at the AVRt., characterized by unswerving dedication, represents U.S. foreign assistance to Hungary at its best. We can only hope that similarly effective programs will continue to be extended to Hungary to ensure the success of democracy.

We are confident that Mr. Teleki will continue to serve the United States and Hungary with the selfless dedication that has characterized his activities in the past.

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