Gov't plans consolidation of FX church debt

History

 Hungary's government plans to consolidate the foreign currency-denominated loans taken out by churches, state secretary of the Prime Minister's Office János Lázár told MTI on Friday. Lázár said the previous Gyurcsány and Medgyessy governments had violated the compensation agreement on church properties, and churches were not paid the amount due by the deadline. Churches took out about €15 million of debt to deal with temporary liquidity problems because of the failure to keep the contract, he added.

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