Hungary’s franc-denominated mortgage problem

Hungary may not be Greece, but that’s both a blessing and a curse. While it doesn’t have some of Greece’s problems, for example it has a lower debt-to-GDP ratio, it has some problems which Greece doesn’t have. Mortgage loans are an example of this. It turns out that Hungarians have had a propensity for taking out mortgage loans denominated in Swiss francs.

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3d rendering of a row of luxury townhouses along a street

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