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Eu Smi - For Hungary!

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http://www.4liberty.org.uk/2011/06/10/are-british-taxpayers-aware-they-are-subsidizing-hungarian-mortgage-holders-in-difficulties/

I can't even get past breakfast without screaming with rage at the internet..

Still good news for those on SMI - when it runs out, the French will be happy to pick up their bill, it says so in the EU Charter..

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http://www.4liberty....n-difficulties/

I can't even get past breakfast without screaming with rage at the internet..

Still good news for those on SMI - when it runs out, the French will be happy to pick up their bill, it says so in the EU Charter..

Is a credit boom an "exceptional circumstance"?

And, how many years will one have to wait while the beaurocracy catches up?...

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The whole issue of all the foreign currency borrowing that took place in Eastern Europe is something of a scandal that is rarely reported. I guess the media do not have the expertise. However the analysis in the article below explains what a problem it is and gives us an idea of how widespread that it is. Much wider than just Hungary.

Eastern Europe borrowed heavily in the Swiss Franc

Again back on the tenth of June last year I observed this.

Moving outside of Switzerland a lot of property and construction borrowing in Eastern Europe was denominated in Swiss Francs. It is not a good situation for these borrowers to see the flip side of the Swiss Franc appreciation ie. their debt has risen in their own currency. Quite what the regulators were doing in these countries to allow mortgages etc. to be denominated in this way escapes me… However it is not a surprise to me that we have seen signs of economic distress recently in Bulgaria and Hungary for this reason.

Just to give you a flavour of some of the numbers involved here and concentrating on Hungary where this was and is a particularly big factor some 1.7 million mortgages were taken out in Swiss Francs and the total sum borrowed is estimated at around half of her Gross Domestic Product or GDP.

http://t.co/gK6hKKo

The scale of all this is somewhat terrifying..

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  • 312 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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