Hungary Plans New Burden for Banks

Politics ♦ Published: July 23, 2013; 07:34 ♦ (Vindobona)

Hungarian households are still over-indebted. Prime Minister Viktor Orban aims to help them on the expense of the banking sector.

Hungary Plans New Burden for Banks / Picture: ©

After 2008, about 1 million Hungarian borrowers were affected by the dramatic devaluation of the Hungarian forint. Most Hungarian borrowers took foreign currency loans. More than 30% of the loans were not repaid according to plan.

Hungary´s government plans to help borrowers. The measures are not known yet. However, the centre-right government may force banks to convert loans…