Bloomberg News

Hungary Bank Group Still to Decide on Turning to EU on Loan Plan

September 30, 2011

Sept. 30 (Bloomberg) -- The Hungarian Banking Association has not yet reached a decision whether to turn to the European Union or the Europan Court of Justice over a government plan on the repayment of foreign-currency mortgages at below-market rates, Mihaly Patai, head of the lobby group said.

“Some individual banks are considering turning to the EU, the association has yet to reach a decision on this,” Patai said at a conference in Budapest today. The group will attack the plan at the Hungarian Constitutional Court, Patai, who is also the chief executive officer of UniCredit Hungary, said.

To contact the editor responsible for this story: Edith Balazs at ebalazs1@bloomberg.net


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