Varga suggests Treasury could offer local councils current account services

History

National Economy Minister Mihály Varga on Tuesday said he wants the State Treasury to start offering local councils some of the same current account services they get from banks at present. Thus expanding the activities of the Treasury would make local councils' operation cheaper and more secure, Varga told commercial broadcaster Inforádió. He conceded that commercial banks would not be happy about such a change, but stressed the savings that could be made and the benefit to the public good. Varga made it clear that the state did not want to lend to local councils through such accounts. "That's what the banks are there for," he said.

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