Keynote speakers included Dr. Koloman Brenner, Member of Parliament and Vice President of Jobbik; Jacques Bazen, ECPP Treasurer and Senior Lecturer in International Economics and Innovative Entrepreneurship at Saxion University in Enschede (NL); MP Dániel Z. Kárpát, Vice President of Jobbik; and Dr. László Marczingós, legal expert and leading Hungarian specialist on foreign currency loan cases.

Dr. László Marczingós explained how several important rulings of the European Court of Justice, following court cases against the Hungarian OTP Bank, have shaped consumer protection and financial case law across Europe. However, he noted that several Member States, including Hungary, have failed to implement these rulings or have actively circumvented them. He criticised the European Commission for allegedly striking a deal with the Hungarian government that reduced pressure for compliance with the Court’s decisions, as well as the lack of attention given to the issue by the ruling parties and other national political actors. According to Dr. Marczingós, the government, banks, and judiciary appear to cooperate within a system that neglects EU law and systematically disadvantages consumers. He concluded by highlighting the broader implications for the rule of law in Hungary, stating: “We are a crippled society. The legal system is undermined, and the lack of the rule of law means a restriction of all rights. Hungarian citizens do not enjoy the same rights as German, Dutch, or other European citizens.”

Jacques Bazen introduced the European Christian Political Party, of which Jobbik is a member. He noted that ECPP is the only European political party that explicitly promotes Christian values in European politics and presented its spearheads, its Members of the European Parliament, and its network of political parties across Europe. He explained that the topic of the conference closely relates to relational economics, one of ECPP’s core principles. Relational economics views the economy not merely as a system driven by land, labour, capital, and entrepreneurship with profit maximisation as its primary goal, but as a network of human relationships shaped by social, cultural, and political contexts. It emphasises trust, cooperation, and local and regional networks, and recognises that economic relations are dynamic rather than static. Strong human networks can foster innovation, reduce unemployment, and enhance quality of life, while their absence can lead to exclusion, lock-in effects, or the externalisation of social and environmental costs.

Applying this perspective to the issue of foreign currency loans, Bazen highlighted the need for greater attention to long-term consequences, fairness, and risk-sharing between lenders and borrowers. He warned that the pursuit of short-term profits often leads to systemic problems, such as economic bubbles and social harm. From this perspective, Bazen stated that ECPP believes in necessary government intervention to establish fair market conditions and protect consumers, recognising that ordinary citizens cannot be expected to fully understand complex financial mechanisms such as exchange-rate spreads or contract amendments. ECPP therefore supports a combination of top-down (such as strong consumer protection rules to prevent harmful loan practices) and bottom-up approaches that empower citizens through education and consumer protection organisations.

Bazen further explained that the practice of issuing loans in foreign currencies such as the euro and Swiss franc was not unique to Hungary, but also widespread in Poland, Croatia, Greece, Slovenia, and Romania. While Hungary addressed the crisis swiftly from a macroeconomic perspective, significant microeconomic concerns remain unresolved. He argued that national court cases against banks have increasingly created more favourable conditions for consumers and that the foreign currency loan crisis has resulted in new EU-level consumer protection legislation, offering at least a positive legacy from a deeply harmful practice. He emphasised that without the rule of law, a country will inevitably decline. He therefore called on European institutions to pressure the Hungarian government to comply with EU law, ensure that rule-of-law mechanisms function properly, and strengthen the principle of subsidiarity.

Member of Parliament Dániel Z. Kárpát highlighted the civil struggle of victims of foreign currency loans. He urged policymakers to listen to experts with the necessary knowledge and expertise rather than relying solely on political considerations. According to Kárpát, the Hungarian government has failed to take responsibility for addressing the issue, leaving initiatives largely to civil society and other actors. He described how Jobbik and Dr. Marczingós established a non-governmental organisation to support victims of the foreign currency loan crisis. Kárpát underlined the ongoing efforts to raise awareness, despite what he described as active indifference from media and authorities. He also referred to a recent demonstration organised by Jobbik with 5,000 participants that received almost no media coverage, stating: “We are being ignored in the heart of Europe, even though we have the means to solve the problem.”

In the panel discussion that followed, Dr. László Marczingós argued that Hungary has failed to fulfil its commitments under the Copenhagen criteria. He stated that Hungarian courts are largely unable to apply EU law and frequently deliver judgments that contradict it, claiming that “Hungary has returned to socialist law.” He emphasised that failure to comply with EU law constitutes a criminal offence and that judges and prosecutors must be held accountable in order to resolve the crisis. He warned that the current situation has pushed Hungary to the periphery of the European Union, making it “closer to Moscow than to Brussels.” He advocated for Hungary to return to its European path, to become receptive to assistance from other Member States, and to invest more strongly in education in European law.

Dr. Koloman Brenner concluded the event by reaffirming the commitment of Jobbik and ECPP to ensure that the call for help from European consumers is heard across Europe and by pledging continued efforts to achieve the necessary reforms.