Top Leaderboard, Site wide
Truthdig: Drilling Beneath the Headlines
July 26, 2017 Disclaimer: Please read.
x

Statements and opinions expressed in articles are those of the authors, not Truthdig. Truthdig takes no responsibility for such statements or opinions.







Truthdig Bazaar
West of the West

West of the West

Mark Arax
$15.40

more items

 
Ear to the Ground
Email this item Print this item

Hungary Hungry for Economic Stability

Posted on Jun 4, 2010
Wikimedia Commons

Hungary’s Prime Minister Viktor Orbán was sworn into office last week.

A new kind of specter is haunting Europe: debt. Hungary’s new prime minister is reported to have said that there is only a slim chance that his country will evade a Greek-style debt crisis, a comment that sent domestic markets into a tizzy and saw the Hungarian currency drop more than 2 percent.

Although the country’s central bank was quick to assure investors that Hungary’s budget was sustainable, fears are rising that Hungary could become the next nation to be hit by the European debt crisis. —JCL

Reuters:

Hungary’s markets tumbled on Friday on confusing comments from the new government on the state of public finances, prompting the central bank to rush to reassure investors the country’s budget was sustainable.

Markets were spooked by comments from the prime minister’s spokesman that he supported the view his country had only a slim chance of avoiding a Greek-style debt crisis, although he said his government would act swiftly to avoid the Greek path.

The forint plunged over 2 percent versus the euro to a new one-year low at one point, while five-year credit default swaps (CDS) jumped, as investors were shocked by the government’s comments and urged clarity on its plans.

Read more

Banner, End of Story, Desktop
Banner, End of Story, Mobile
Watch a selection of Wibbitz videos based on Truthdig stories:


Get a book from one of our contributors in the Truthdig Bazaar.

Related Entries

Get truth delivered to
your inbox every day.



New and Improved Comments

If you have trouble leaving a comment, review this help page. Still having problems? Let us know. If you find yourself moderated, take a moment to review our comment policy.

Join the conversation

Load Comments
Right Top, Site wide - Care2
 
Right Skyscraper, Site Wide
Right Internal Skyscraper, Site wide

Like Truthdig on Facebook