01 October 2011

HUNGARY: 20,000 Union Workers Protest New Tax, Labor Laws; Orban Wants Banks To Suffer On Home Loans.

                                          KYIVPOST

     Organizers claim more than 20,000 trade union members gathered outside parliament in Budapest...protesting recent labor, tax and other laws...they have brought lower salaries and poorer working conditions.
     PM Viktor Orban...with his 2/3 majority...has passed laws that retroactively force some early retirees to return to work.
     Some unionists are calling Orban...the "Viktator".


    ALSO: On 2 screens...NYT Columnist Floyd Norris writes about Orban's effort to make foreign banks...most Austrian...suffer from soaring Swiss franc, yen and euro denominated mortgage loans...with debtors able to get about a 25% discount on current values...because of claims the banks misled borrowers.
http://www.nytimes.com/2011/09/30/business/global/hungary-blames-the-banks-in-its-mortgage-crisis.html