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Erste's commitment to Hungary for the next 150 years

Andreas Treichl, CEO of Erste Bank Group, thinks Hungary itself has caused the crisis itself, but "the same way Hungary now could take fate into their own hands so quickly, and would change everything in four weeks. The government just needs to want to do so "- the leader said in the invterview of Handelsblatt.

18 January 2012

Andreas Treichl, CEO of Erste Group"Orbán Prime Minister should have asked simply help from the International Monetary Fund and the EU, and everything would be very different" - stressed Treichl, who said essential indicators of the Hungarian economy are all right. Therefore, the head of Erste Bank is totally convinced that "Hungary's economy passes current crisis."

In connection with the Bank he pointed out that the exit from Hungary does not come into play. "In Hungary, Erste has not built up its activity which would leave it after ten years. Erste's commitment to Hungary for the next 150 years "- Treichl added.

As it is known, the Austrian bank has laid-off 15% of employees and closed 41 branches in Hungary due to significant loss caused by limited revenue prospects, fall in lending, extreamly high bank tax and Early Repayment.

About bankruptcy he said "certainly, it would not be a simple situation," but a partial debt relief, such as Greece aims, Erste "can digest."