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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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