The European Tribune is a forum for thoughtful dialogue of European and international issues. You are invited to post comments and your own articles.
Please REGISTER to post.
In 2002, the incumbent Fidesz government and the Socialist-liberal opposition ran a heated campaign with outlandish promises. When the opposition won narrowly, the then PM felt they must deliver -- and the combination of Socialist pay and pension increases and liberal tax cuts naturally led to a budget crisis. Nothing much was done about it after that PM was replaced by another Socialist, what's more, the 2006 campaign was again marked by a competition of unrealistic campaign promises. Then the really bad deficit numbers came in quarter by quarter, while the political mess (demand for recounts, riots) left economic players uncertain about what will be done. When PM Gyurcsány geared up in 'reforms' mode, things went back to normal, the Forint was maintained around 250 again.
(I note a subterfuge here: still in 2006, the Central Bank was ruled by a political appointee of the previous, right-wing governent, and there were several public confrontations on economic policy, and mutual accusations of messing up.)
One whose delusions are out of fashion.
by Migeru - Nov 17 28 comments
by Frank Schnittger - Nov 14 98 comments
by Oui - Nov 13 35 comments
by Oui - Nov 17
by ARGeezer - Nov 7 74 comments
by Oui - Nov 7 5 comments
by Oui - Nov 7 11 comments
by Frank Schnittger - Nov 2 71 comments
by Migeru - Nov 1728 comments
by Oui - Nov 17
by Oui - Nov 152 comments
by Frank Schnittger - Nov 1498 comments
by Oui - Nov 1335 comments
by Oui - Nov 132 comments
by Oui - Nov 9
by Oui - Nov 75 comments
by Oui - Nov 711 comments
by ARGeezer - Nov 774 comments
by Frank Schnittger - Nov 271 comments
by Oui - Nov 14 comments
by Oui - Oct 31
by fjallstrom - Oct 315 comments
by gmoke - Oct 302 comments
by Oui - Oct 29
by Frank Schnittger - Oct 2521 comments
by Oui - Oct 243 comments
by Oui - Oct 205 comments
by Oui - Oct 192 comments