Hungary

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Hungary's Debt Jumps to Four-Year High

Hungary's gross public debt jumped to a four-year high of 85.1% of gross domestic product at the end of June, central bank data published Monday showed, The Wall Street Journal reported. Gross public debt calculated under the European Union' ...

Daily Headline - global.abi.org - 08/18/2014 - 21:07 - 0 comments

Hungary Extends Eviction Moratorium for Forex Debtors

Hungary’s parliament, in its first decision in the new term, this week passed a bill to extend an eviction moratorium for foreign-currency mortgage debtors, The Wall Street Journal Emerging Europe Real Time blog reported. The moratorium, which also i ...

Daily Headline - global.abi.org - 05/14/2014 - 21:02 - 0 comments

Insolvency In Hungary Not Due To Higher Monthly Instalments

Unemployment remains a key factor behind insolvency in Hungary. In about 3 out of 4 cases, low or nonexistent income is the reason why people in Hungary run up debt, debt collector company Intrum Justitia noted in a survey on insolvency, Portfolio.hu rep ...

Daily Headline - global.abi.org - 04/22/2014 - 21:59 - 0 comments

Hungary May Change Forex Loans Retroactively, Court Rules

Hungary’s top court Monday ruled that lawmakers can adopt legislation allowing retroactive changes to foreign-currency loan contracts, but the changes must take into account the interests of both the borrowers and lenders, The Wall Street Journal Eme ...

Daily Headline - global.abi.org - 03/17/2014 - 22:49 - 0 comments

Hungary Central Bank Fines 35 Banks

The Hungarian central bank Thursday fined 35 banks in an effort it said was to protect consumers after most banks managed to pass on to clients a large share of the extra tax burden the Fidesz-party government levied on the banking sector in 2013, The ...

Daily Headline - global.abi.org - 03/13/2014 - 23:32 - 0 comments

Austria, Hungary Central Banks Shouldn’t Become Enemies, Nowotny Says

The central banks of Austria and Hungary should seek a “workable and fair” solution to the problems Austrian banks are facing with Hungary, and shouldn’t become each others’ enemies, Austrian central bank Governor Ewald Nowotny said Friday, The Wall St ...

Daily Headline - global.abi.org - 02/02/2014 - 21:35 - 0 comments

Hungary Levies Record Fine on Banks in Forex Mortgage Case

Hungary’s competition authority Wednesday levied its highest ever fine in a cartel case against the country’s largest banks, saying they had discouraged home owners with a foreign-currency mortgage from taking part in a program aimed at reducing their lo ...

Daily Headline - global.abi.org - 11/21/2013 - 00:07 - 0 comments

S&P Affirms Hungary Junk Rating, Warns of Debt Vulnerability

Standard & Poor’s Ratings Services warned Friday that it may downgrade Hungary further into non-investment grade over the next 12 months should government policies weaken investor confidence and the outlook for recovery, The Wall Street Journal E ...

Daily Headline - global.abi.org - 10/27/2013 - 23:00 - 0 comments

Magyar Telekom To Seek Court Approval For Debt Restructuring

Hungarian operator Magyar Telekom announced plans to apply to the High Court of Justice in England and Wales for a court hearing to be held no earlier than 28 October for approval of its earlier announced debt-equity swap, Telecompaper reported. This sho ...

Daily Headline - global.abi.org - 10/21/2013 - 22:05 - 0 comments

Hungary Talks with Banks on FX Mortgage Relief Focus on Conversion

Talks between Hungary’s government and its banking association over a relief plan for households with foreign currency mortgages are focusing on exchange rates, the timing of a possible debt conversion and interest on converted mortgage loans, the secret ...

Daily Headline - global.abi.org - 09/03/2013 - 20:29 - 0 comments

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