INSIGHT-Hungary dug itself a debt hole, now it pays the piper=2


currency, and became so bad that the Socialist government needed a bailout. Hungarians who had taken out loans when they could get exchange rates of 140 forints to the Swiss franc suddenly were having to pay 200 forints per franc or more. The howls of outrage did not go unheeded by Viktor Orban, whose Fidesz party won a two thirds majority in parliament in 2010. His government came up with a plan for the banks to eat the losses, instead of the citizenry. In one of those offers that ...

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