Bloomberg News

Sell Forint As Hungary Faces ‘Drastic’ EU Demands, SocGen Says

January 23, 2012

Jan. 23 (Bloomberg) -- Investors should sell the forint against the Polish zloty or the Romanian leu as Hungary faces “drastic” demands from the European Union in return for reviving talks on financial assistance, Societe Generale SA said today.

“Aside from modifying the revised central bank law so that it obeys EU rules, a second set of preconditions will be announced,” Guillaume Salomon, a London-based strategist at the bank, said in an e-mailed report, adding that the new conditions will concern “safeguarding the rule of law.”

To contact the editor responsible for this story: Andras Gergely at agergely@bloomberg.net


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