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Realistbear

Hungary Collapsing--May Need A Bail Out

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http://uk.finance.yahoo.com/news/hungary-debt-fears-gnaw-at-euro-reuters_molt-8bf685787973.html?x=0

Hungary debt fears gnaw at euro
Robert "Bob" MacMillan, 22:10, Friday 4 June 2010
NEW YORK (Reuters) - The possibility of a Hungarian debt crisis pushed the euro to a four-year low against the dollar on Friday and reignited fears
more Eastern European nations could reveal financial frailties.
The new Hungarian government spooked investors and knocked more than 2 percent off its currency, the forint, versus the euro, after a prime minister's spokesman said he supported the view the country had only a slim chance of avoiding the kind of debt crisis that plunged Greece into financial instability.

Funny old game of dominoes as Hungary is nowhere near the PIIGS. Hungary no doubt also had a property bubble and lotsa Brit EAs over there selling property to the natives on the promise of untold riches.

As Jo Garcia said: "Man this shit is getting heavier."

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http://uk.finance.yahoo.com/news/hungary-debt-fears-gnaw-at-euro-reuters_molt-8bf685787973.html?x=0

Hungary debt fears gnaw at euro
Robert "Bob" MacMillan, 22:10, Friday 4 June 2010
NEW YORK (Reuters) - The possibility of a Hungarian debt crisis pushed the euro to a four-year low against the dollar on Friday and reignited fears
more Eastern European nations could reveal financial frailties.
The new Hungarian government spooked investors and knocked more than 2 percent off its currency, the forint, versus the euro, after a prime minister's spokesman said he supported the view the country had only a slim chance of avoiding the kind of debt crisis that plunged Greece into financial instability.

Funny old game of dominoes as Hungary is nowhere near the PIIGS. Hungary no doubt also had a property bubble and lotsa Brit EAs over there selling property to the natives on the promise of untold riches. In addition the deficit to GDP is less than half that of the UK or USA

As Jo Garcia said: "Man this shit is getting heavier."

It is a problem for European banks who have loaned money to Hungary but it is not strictly a Euro issue like Greece, Spain etc because Hungary is not in the Eurozone.The debt to deficit ratio for Hungary is currently under 5% which is less than half that off the USA or UK. Of course there is probably a ton of private debt just as in Spain and the UK but then no one ever seems to pay much attention to those liablities even though they are just as likely to be defaulted

http://www.businessweek.com/news/2010-06-04/hungary-isn-t-greece-moody-s-says-following-tumble-in-bonds.html

Edited by realcrookswearsuits

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  • 142 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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