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Hungary: Small Concession for Banking Industry
Politics ♦
Published: November 24, 2012; 16:34 ♦ (Vindobona)
The banking sector in Hungary is under pressure. The government in Budapest decided to pay back debts of municipalities by the end of the year.
Hungary: Small Concession for Banking Industry / Picture: © Vindobona.org
At the beginning of November, the Hungarian government announced to take over debts of municipalities with less than 5,000 inhabitants. Already at the end of October, Prime Minister Viktor Orban emphasized to relief municipalities. In total, the debt volume reaches about € 2.2bn. More than 1,950 municipalities are concerned. According to the government, the state would be in a better…
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