Now Hungary

With the same recipe used by Greece, Hungary just recognize that it has distorted economic data and its fiscal situation is much more serious than the affirmed by their numbers. Do many other European countries have done the same thing? It is so easy to falsify economic data in Europe? Is a new crisis of great magnitude inevitable in the coming months? Increasingly it is more clear that the problems in Europe are not easy to verify. What has come to light so far, probably not all the garbage that exists. Many must be regretting not have known about the decision that he would take the Hungarian Government of honest to bet against its public debt. The profits that would have been achieved had been immense. Is that only in the day of Friday Hungary CDS have soared 100 basis points. Perhaps the spokesman of the Hungarian Government, Peter Szijjarto, before having to give the news, was able to telephone any stockbroker and leverage to become of a good gain. Is that if managers of the Societe General (and many other directors of companies that have enjoyed Insider), eventually did so, do not think that members of the Hungarian Government, not yet done? For the new Government of the first Conservative Minister, Viktor Orban, who last week assumed power, there will be no results nothing pleasing to find out the real situation of the economy of the country.

In a reckless manner, Szijjarto said about the situation of public finances: talk of insolvency or cessation of payments would not be an exaggeration. The problems that have come to light, nor were good news for the Hungarian currency, the forinto, which fell against the euro by 2%, up to 287,7 units per euro, and promises to continue with that trend, at the risk of generating more destabilizing effects for the stricken and fragile economy. You will need to help Hungary a second? Is worth remembering that in the month of October 2008, and a Some have been triggered the international financial crisis, Hungary received an international of 20,000 million euros loan from the International Monetary Fund (IMF), the European Union (EU) and the World Bank (WB), to save the country from bankruptcy. From the Hungarian Government announced that carry out tough reforms to prevent the collapse of the economy. But what kinds of reforms can be implemented to recover public finances in a collapsed economy that is part of a continent, also collapsed? The Hungarian economy represents just 0.8% of the gross domestic product (GDP), from the European Union (EU), but despite its smallness, its crisis can cause deep damage, incalculable dimension. -Special report on international markets as closed international markets? What factors behind the decline of more than 10% in indexes on Wall Street? Why the euro does new lows? Those closures, the analysis of international markets, commodities, currencies, and update about everything that happened in the markets tomorrow so you own the information and analysis necessary to start the trading day. All summarized in a report only. Sent to your email every morning before box opening in New York. If you want to subscribe, click here. BlogRoll a 4.4 degrees magnitude earthquake shakes southwest of Colombia LIBERTARIAN newspapers from Bolivia in the United States: does can be ANARCHIST and right-wing?

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