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EUR-HUF exchange update

EUR-HUF exchange rate on 3 and 6 months and one year bases.

Source: MNB, Central Bank of Hungary

EUR-HUF 6 hónap

EUR-HUF 3 hónapos

EUR-HUF 1 éves [node:read_more:link]

The blinkers in Budapest - The Economist

According to the announcement on September 8th by György Matolcsy, the national economy minister, that the country will aim for a 2011 budget deficit of 3 per cent of GDP is the first sign the government has given that it will not fight too many battles simultaneously.

 

But it would only take a new shock, a sharp increase in risk-aversion, or a further forint slide, to force the country to return to the IMF, but this time with no cards left to play.

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As nationalism rises, will the European Union fall?

An article by Charles A. Kupchan

Europe is hardly headed back to war; its nations have lost their taste for armed rivalries. Instead, less dramatically but no less definitively, European politics will become less European and more national, until the E.U. becomes a union in name only. This may seem no great loss to some, but in a world that sorely needs the E.U.'s aggregate will, wealth and muscle, a fragmented and introverted Europe would constitute a historical setback.

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To deal with the deficit, let the tax cuts expire - Fareed Zakaria

The "Bush tax cuts," passed in 2001 and 2003, remain the single largest cause of America's structural deficit -- that is, the deficit not caused by the collapse in tax revenue when the economy goes into recession.

Those cuts are set to expire this year.

I understand the fear that this is not a good time to raise taxes. But the impact of marginal shifts in tax rates on growth is pretty unclear. [node:read_more:link]

Hungary Takes Feisty Tone with EU on Taking Private Pension Plans on the State Balance Sheet - WSJ

Ahead of Hungary?s municipal elections scheduled for October 3, the center-right government?s communication seems once again aimed at scoring points with the local public even at the expense of losing them in international relations.

The Wall Street Journal, 9 August, 2010 [node:read_more:link]

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