A Great Achievement in Central Banking (II) | 120 comments (120 topical, editorial, 0 hidden)

Re: A Great Achievement in Central Banking (II) (none / 0)

Is this a good time for the PIIGS and other "periphery countries," like Hungary, to tell Merkozy to either come back to sanity or they will play the default card?

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Fri Nov 25th, 2011 at 06:06:00 AM EST
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Re: A Great Achievement in Central Banking (II) (4.00 / 4)

Hungary is not in the Eurozone and has a mad right-wing government.
If just one of the PIIGS leaders had the acumen to think outside the box and rebel against the austerity dictate, Merkozy would have nothing to say years ago already.

_{*Lunatic*, n.

One whose delusions are out of fashion.}

by DoDo on Fri Nov 25th, 2011 at 07:32:42 AM EST
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Re: A Great Achievement in Central Banking (II) (none / 1)

Hungary isn't in the eurozone but the forint, thus the Hungarian economy, is being jerked around by the ECB's euro policies.

In fact:

The forint weakened 1.5 percent today and traded at 316.11 per euro at 7:15 p.m. in Budapest. It lost 16 percent since June 30, making it the worst-performing currency in the world. The government's 10-year bonds slid, lifting the yield above 9 percent for the first time since 2009. Credit-default swaps rose to 646 basis points, a record high.

& etc. and so - depressingly - so forth.

She believed in nothing; only her skepticism kept her from being an atheist. -- Jean-Paul Sartre

by ATinNM on Fri Nov 25th, 2011 at 03:31:09 PM EST
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A Great Achievement in Central Banking (II) | 120 comments (120 topical, 0 editorial, 0 hidden)