Austria Considers Lawsuit Against Hungary

People ♦ Published: September 12, 2011; 15:33 ♦ (Vindobona)

The Austrian Minister of Foreign Affairs, Michael Spindelegger (ÖVP) threatens Hungary to file a lawsuit at the European Court of Justice. Hungary plans to stress banks massively.

Austria Considers Lawsuit Against Hungary / Picture: © Flickr / The Austrian Foreign Ministry

The unfavorable development of the Hungarian Forint against the Euro and the Swiss Franc led the Hungarian government to a controversial step. Many Hungarian households are indebted in foreign currencies. After the financial crisis in 2008, many households have multiplied their debt level. Now the Hungarian government intends to support domestic loan takers: repayment should be made…