September 28, 2011
Both yesterday's and today's issue of Financial Times investigates the situation of the foreign currency mortgage loan-borrowers in Hungary and the policy of fixing the exchange rate on Swiss franc and Euro mortgages by the government. The paper explains that banks claim the Hungarian government has breached European Union rules, and the move could set a dangerous example for other countries in the region facing the same exchange-rate problems. The article quotes reactions from representatives of leading banks and financial specialists. It is also suggested that the mortgage law was a big mistake that would have negative impact on Hungary's economy in the long run. Further details in today's Financial Times!