Government Requests Court To Streamline Forex Mortgage Process


News: Hungarian Prime Minister Viktor Orban has asked the country's supreme court to streamline the legal procedure for the settlement of foreign currency borrower lawsuits. The aim is to resolve the issue before Orban seeks re-election in six months. 'We would like the Curia [supreme court] to sympathise and feel the social significance of this issue, and make a decision that would come in time [for the government to sort out the issue ahead of the elections],' said Orban (Wall Street Journal). The government plans to introduce a relief plan for mortgage debtors following the supreme court's decision.

This article is tagged to:
Sector: Country Risk, Insurance
Geography: Hungary

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