"As beyondbrics wrote on Wednesday, the Hungarian government’s latest austerity package includes a “tax” on local government bonds held by banks that looks suspiciously like a haircut.
Gabor Orban, state secretary at the finance ministry, responded on Thursday to a beyondbrics request for comment. He says the ministry had thought of giving bondholders a haircut but pulled back for “technical reasons”. His full comment follows."
'via Blog this'
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