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Hungarian Government Wants Further FX Debt Reliefs

Published: September 4, 2013; 07:11 · (Vindobona)

The government has talks with the Hungarian banking association. In order to de-burden indebted Hungarian households, Prime Minister Viktor Orban wants to reach a debt relief plan.

Hungarian Government Wants Further FX Debt Reliefs / Picture: ©

The centre-right government will force banks to convert loans for a second time. Already in September 2011, the Hungarian government resolved that Hungarian loan takers may repay foreign currency loans at favorable conditions. Losses for banks amounted to 25% of the nominal value.

The government first of all intends to eliminate foreign currency denominated mortgages for home…

This article includes a total of 430 words.

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