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Szajlai, Csaba
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2 articles of this author have been cited in the European Press Review so far.
Hungary's government endangering the economy
Hungary's right-wing conservative government introduced an exchange rate cap on Monday meant to help hundreds of thousands of Hungarians service their loans in foreign currencies. But the measure will only harm the country's economy, writes the conservative daily Magyar Hirlap: "This construct guarantees borrowers five years of lower instalments. After that, however, their monthly payments will rise again. At the same time, however, the banks and the state are exempting indebted households from a considerable sum. ... Nevertheless the Hungarian economy continues to have high foreign currency debts, and the exchange rate cap won't help it out of its plight. According to experts at the National Bank, the measure only redistributes the burden among the households, banks and the state. Another question is what additional losses the exchange rate cap will inflict on the banks. Should their losses be high it will put a major brake on lending, which will in turn smother economic growth."
» full article (external link, Hungarian)
More from the press review on the subject » Banks, » Politics, » Society, » Hungary
Hungary makes right decision
The Hungarian government's decision to endorse the EU fiscal compact was a sensible one, writes the right-wing conservative daily Magyar Hírlap: "For the average citizen the results in Brussels are difficult to comprehend. Until now the problem for Hungary, or more precisely its government, was that the EU was concerning itself with the independence of the media and central bank and even interfering with matters regarding the democratic legal system. Now on top of everything else we're supposed to draw up our budget according to EU stipulations. But the government has made a good decision. It has considered the interests of investors, the markets and the EU, which means its well on its way to returning to the European fold. Or more precisely, not just the European fold but also the European Union's framework of rules."
» full article (external link, Hungarian)
More from the press review on the subject » EU Policy, » Hungary, » Europe
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