Hungary has unveiled a larger-than-life statue of the late U.S. President Ronald Reagan, credited by many with having helped end communist rule in Europe.

Former U.S. Secretary of State Condoleezza Rice joined Hungarian Prime Minister Viktor Orban for the ceremony.

Mr. Orban hailed the former American president as a man who had managed change wisely and preserved peace. The memorial marks the 100th anniversary of Mr. Reagan's birth.

Mr. Reagan, who died in 2004, was U.S. president from 1981 to 1989.