Austrian central bank head says gov't should take legal steps to block fx-loan repayment plan

History

National Bank of Austria Governor Ewald Nowotny said on Wednesday that the country's government should utilize all the legal means at its disposal to block Hungary's foreign-currency-denominated mortgage repayment plan announced this week, MTI's Vienna correspondent reported.

Prime Minister Viktor Orbán on Monday announced the details of a plan allowing Hungarians with foreign-currency-denominated mortgages to pay back their loans in a single installment at a fixed exchange rate.

Austrian officials have said that the plan poses a threat to Austrian banks.

ADVERTISEMENT

Business, consumer confidence improves - Századvég Analysis

Business, consumer confidence improves - Századvég

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.