Bloomberg News

UniCredit CEO Says IMF ‘More Positive Than Appears’ on Hungary

March 09, 2012

UniCredit SpA (UCG) Chief Executive Officer Federico Ghizzoni said the International Monetary Fund is “more positive” than it appears about its talks with Hungary on a possible aid deal for the country.

“They are a bit more positive than it appears in the papers,” Ghizzoni told journalists in Vienna last night, saying he met with a senior IMF official earlier this week. “Based on a realistic approach, meaning that Hungary cannot survive alone and Europe cannot have another Greece, eurozone or not, it’s indispensable to find a solution,” he said.

Ghizzoni, whose bank owns a unit operating in Hungary, said that it was time for Hungary to “start to negotiate seriously” and that he was sure a solution would be found “within the year.”

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Zoltan Simon at zsimon@bloomberg.net


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