Hungarian Government Wants Further FX Debt Reliefs

Politics ♦ 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: © Vindobona.org

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…