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Hungary To Join The Piigsb?

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On Monday 6 December 2010, 13:40
The euro fell sharply against the dollar ahead of a crucial meeting of eurozone finance ministers over the direction of monetary union as a Hungarian bond downgrade left investors uneasy about European debts.
The single currency slumped to $1.3277 from $1.3415 late on Friday and yields on 10-year bonds in the struggling eurozone economies of Portugal, Ireland (Berlin: IIK.BE - news) , Italy, Greece, Spain, Belgium and Hurgary widened further, pushing up borrowing costs.
Moody's Investors Service downgraded Hungary's credit rating to Baa3, one notch above junk, citing long-term fiscal concerns and external vulnerabilities, and said more downgrades may follow

Odd that the Euro went down in respnse to this. I thought all bad fundamentals were a buy signal for Euro stocks and bonds? :blink:

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Interesting. A quick search tells me that flats on the best street in Pest (Andrassy) are going for for under £1k psqm, and according to (the usually unreliable IMO) Global Property Guide site yields are 7.2%. Calling the bottom of what looks like an Argentinian style crisis would be hard, but there's an opportunity there for adventurous HPCers.

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dunno about PIIGSB + Hungary, more like



BIGSHIP - Sinking like the Titanic (slowly with lots of casualties...) :blink:

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Genius. It's the best catch phrase ever.

Yes, good one.

But on a serious note, Hungary did not want to go on with the IMF and refused the last tranche plus 'kill the people' conditions.

So, the ratings agencies decided to 'teach them a lesson'.

It's all nutso. And very sinister.

This is all going nowhere. The austerity being forced upon the EU peripherals is worse than the Soviet occupation. It's horror time in Latvia, Estonia, Romania and blah. Our friends in Brussels have no idea. (What's that phrase again, 'They just don't get it'.)

Edited by copydude

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  • 311 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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