Hungary's banks must resolve forex loan problem by Nov-Fidesz
VISEGRAD, Hungary, Sept 5
VISEGRAD, Hungary, Sept 5 (Reuters) - Hungary's banks must repair the mistakes of foreign currency mortgages and if they do not come up with a sufficient solution by November, the government will submit its own proposal, the ruling Fidesz party said on Thursday.
Antal Rogan, the head of Fidesz' parliamentary group said that banks had a moral responsibility for the foreign currency loan problem and they should modify loan contracts in favour of borrowers. The deadline for banks is November 1, he said.
"For one and a half months banks have the possibility to resolve this problem as they also have the moral obligation (to do so)," Rogan told a news conference.
"We expect banks to modify the contracts...if this does not happen then the state will step in, and will work out its own proposal which parliament will approve before the end of the year. And the direction of this is fairly obvious."
"We will set the goal of phasing out foreign currency mortgages ... and practically implement a conversion of these (loans) into forints." (Reporting by Krisztina Than/Sandor Peto)
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