Hungary has no option but painful reforms
Commenting on the planned reforms presented by PM Orbán in Brussels, analysts agree that the Hungarian government has no choice but to take further steps to reduce the deficit after a decade of...
View ArticleThe price of the IMF loan
Now that the European Commission have given the green light for Hungary to start negotiating a credit-line agreement with the IMF, commentators assess the possible consequences of the restrictions...
View ArticleCould Hungary benefit from the IMF’s U-turn?
Pro-government commentators wonder whether Hungary can expect more flexibility from the EU and the IMF, after Olli Rehn and Christine Lagarde suggested that the principle of deficit cuts is not carved...
View ArticleEU lifts Hungarian cohesion fund suspension
The leading pro-government daily welcomes the decision by the ECOFIN to lift the suspension of 500 million Euros in aid to Hungary, and explains it as an open acknowledgement of the validity of the...
View ArticleIMF and Brussels could demand painful policy changes
Commentators agree that the IMF and the EU will make the credit line agreement with Hungary conditional on significant changes in the tax code. But while a left-wing columnist believes that the IMF’s...
View ArticleWhy the government is tough about the IMF talks
A leading pro-government commentator argues that Hungary can afford to be tough at the negotiations with the IMF-EU duo, and is right to stand up for its own interests. In Heti Válasz, editor Gábor...
View ArticleThe fear of a credit crunch
A long-time right-wing critic of the government’s economic policy warns that prolonged banking taxes might result in a steep decline in economic output. Banks are offering less and less credit, which...
View ArticleIMF credit deal less probable than ever
Two pro-government commentators disagree over the desirability of a credit-line agreement with the International Monetary Fund. In Magyar Nemzet, Tamás Nánási welcomes an announcement by the Treasury,...
View ArticleMatolcsy’s first package
Népszabadság reacts with relief to the first programme announced on Thursday by the new National Bank chief, while Magyar Nemzet comments that Mr Matolcsy has done more in one week than his predecessor...
View ArticleBenevolent criticism of Matolcsy’s stimulus project
A conservative critic of government policies thinks the new growth-oriented credit scheme announced by the National Bank may help, but only if Hungarian small businesses are competitive enough and...
View ArticleBanks win loan court case
A conservative blogger believes that creditors who demand radical state action and even the annulation of their mortgage loan contracts echo the public culture of the pre-1989 era. On Thursday, July 4...
View ArticleIMF credit not so cheap after all?
Heti Válasz argues that Hungary is actually not losing money by financing her deficit from the market, rather than from the IMF credit line. The IMF is about to close its Budapest office as Hungary is...
View ArticleMNB extends cheap loan programme
Analysts across the political spectrum ponder the possible implications of the National Bank’s extended lending program, which aims to stimulate economic growth. On Thursday, National Bank president...
View ArticleCentral Banker Matolcsy on FX loans and banks
The leading left-wing daily accuses National Bank chief Matolcsy of compromising judicial independence and the rule of law by calling for retroactive legislation in order to abolish FX loans. A...
View ArticleBanks report modest profit
As two-thirds of banks in Hungary report a profit in 2013 after two years of losses, a conservative columnist points out that contrary to the predictions of left-wing critics of the government, taxes...
View ArticleForeign currency (FX) loans to be eliminated
As the government promises to convert FX loans into Forint credit by the end of the year, analysts wonder how the conversion could and should be carried out. On the basis of the guidelines issued by...
View ArticlePM calls for ’fair banks’
As Parliament passes the law on foreign currency loans and PM Orbán announces a new era of ’fair banks’, the leading left-wing daily calls for an era of fair politics. A conservative columnist on the...
View ArticleFX loan settlement scheme announced
Commentators welcome the government’s decision to convert FX mortgages into Forint loans at market rates. Economy Minister Mihály Varga announced that loans denominated in foreign currencies will be...
View ArticleSwiss Franc soars
In a comment on the shock caused by the decision of the Swiss National Bank to lift the currency cap which pegged the Swiss Franc to the Euro, commentators on both Left and Right praise the...
View ArticleHungary to introduce family bankruptcy
As Christian Democrat MPs table a new bill on family insolvency, a liberal columnist fears that even this scheme will not bail out families in extreme need. A conservative commentator on the other hand...
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