September 1st, 2010
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Socialists call on PM to stop forint dive

Hungary’s main opposition Socialist Party called on the prime minister on Tuesday to take action to stabilise the plunging forint.

The Socialists said that the forint’s heavy weakening against the Swiss franc, one of the most popular denominations for home loans, will hurt borrowers to an unprecedented extent.

“People feel as if the Fidesz-Christian Democrat government had some interest in seeing 1.5 million foreign-currency borrowers go bankrupt,” a statement sent to MTI said.

It added that publishing key figures of the 2011 budget, which the government has stalled, could help the forint to stabilise.

The forint traded record high against the Swiss franc on Tuesday morning, hitting 222.42 against the Swiss currency at 9am.

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