Hungary entrenched government is attracting greater criticism these days from European Union bodies. First, a member of the European Central Bank’s governing council appealed to common sense as it seeks a solution to the problem of foreign currencies loans handed out before the financial crisis. The government looks set to push through measures to bail out consumers that could cost banks up to 11 percent of their capital. Ewald Nowotny, who is also governor of Austria’s central bank, called Hungary a problem area for Austrian banks. He told Bloomberg that the country’s problems were politicall motivated.
