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TomSellek

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About TomSellek

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  1. "Economy Minister Gyorgy Matolcsy announced the policy yesterday, escalating a government drive to bring 3 trillion forint ($14.6 billion) of privately managed pension assets under state control to reduce the budget deficit and public debt. Workers who opt against returning to the state system stand to lose 70 percent of their pension claim. “This is effectively a nationalization of private pension funds,” David Nemeth, an economist at ING Groep NV in Budapest, said in a phone interview. “It’s the nightmare scenario.” My question is could this happen here? I mean they absorbed all the bad banks losses (intot he future) without a flying f3ck about the electorate What happens if they can't keep up the repayments on the mega debt?
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