Hungary’s PM: Justice Done For Borrowers
- 15 Sep 2014 9:00 AM
Once banks have been forced to settle with their clients who borrowed in foreign currency, remaining instalments of loans will certainly decrease by one-third on average, the prime minister said in a radio interview. It is unprecedented in the history of Hungary’s economy that the government and parliament has followed “the logic of fairness” and fully screened “an unfair system of financial manoeuvres” while calling banks to account, Viktor Orbán said, adding that “never before has being unfair been unprofitable and being fair profitable.
” At the same time, he said banks are necessary parts of a modern financial system, and if they are “handled well”, their existence is a blessing for the economy.
Orbán said the full conversion of FX loans into forint denominated ones has remained a goal but these talks have not yet started.
“This is another story,” he said. Asked about EU-related criticisms, he said battles should only be taken up if there was a point to doing so.
The government has achieved satisfactory results for Hungary in terms of the partnership agreement, Orbán said, adding “why should be hurt the other side in such a case?"
Speaking about the police raid of the Ökotárs Foundation, which distributes monies from the Norway Grant, Orbán said that the law applied to everyone both as far as public and private money was concerned.
On the topic the naming of Tibor Navracsics as EU commissioner in charge of education, culture, youth and sport, Orbán said Navracsics would be responsible for the future in the EU, since the bloc’s future depends on the education system and cultural and sporting life.
Source www.hungarymatters.hu
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