Banks have become accustomed to both justified and unjustified criticisms from politicians in the wake of the financial crisis and the anger the crisis generated.
But in Hungary the measures proposed as a result will place almost the entire burden for stabilising government finances onto the banks and, more critically, stifle the lending needed for the country to grow out of its malaise. The Fidesz government has plans to push the balance between borrower and lender so far in the borrower's favour that non-repayment presents itself as the most attractive option - moral hazard writ large.
