Hungary and the IMF - Press review

  • The Wall Street Journal created a summary of the immediate responses from analysts to the sudden breakdown of negotiations between the IMF and the new Hungarian government. WSJ online, 22 July, 2010: Hungarian Communication on IMF: Confusing
  • The Financial Times is dealing with the apparent inflexibility towards the IMF delegation together with other tendencies of the new government such as fuelling and exploiting the nationalist sentiment of a big chunk of the population to maintain its popularity. FT online, 23 July, 2010. Hungary's prime minister makes his presence felt (requires free registration)
  • The German Handelsblatt mentions both the new banking tax (Handelstblatt, 22 July, 2010. Ungarn führt die Bankenabgabe ein), and the breakdown of negotiations with the IMF (Handelstblatt, 19 July, 2010. Ungarn verweigert weitere Sparbemühungen). The German point of view is especially concerned with the great exposure of German and Austrian banks in Hungary and also its reluctance to introduce further asuterity measures, which is peculiar in light of the recent steps taken to reduce German deficit.