Budapest, June 29 (MTI) – The Greek financial crisis will only have a slight impact on Hungary’s economy, Hungary’s economy minister said on Monday.

Speaking to journalists in the ministry at an awards event for entrepreneurs, Mihaly Varga said the impact of the Greek banking sector on the Hungarian one was “minimal”.

Two effects have to be watched, he said: the exchange rate and bond yields. In the past few weeks, the market has priced in the Greek crisis, Varga said. As to the bond market, he added that it may be the case that investors move from peripheral countries to safer territory, but Hungary is unlikely to suffer any drastic changes.

Photo: MTI


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