Talks between Hungary, the EU, and the IMF have fallen apart and now the country may be left without the rest of its €20 million support loan, according to Reuters.
Talks broke off Saturday, but this is unlikely to impact Hungary’s financial stability in the short term, as it has remaining loan funds available.
It is the long-term status of the agreement that is of concern, with Hungary needing to secure the backstop of a potential loan through 2011 and 2012, according to Reuters.
This could make Hungary yet again a flash point on Monday for banks with exposure there.
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