- a deterioration of the competitiveness of Hungarian workers - the ending of a consumption-driven boom - the government attempting to goose up consumption through various tricks to keep the economy going - lots of people borrowing in CHF (esp. mortgages), providing a huge barrier to devaluing the currency as a way to restore competitiveness - a semi-authoritarian government applying pressure on the independence of elections, the press, and the central bank - something called the "final repayment of credits" law, which is tough on foreign investors - long-term risk of insolvency of the state, starting to become short-term risk of illiquidity - some sort of shouting match between the Prime Minister and the EU, IMF, etc., etc., probably revolving around the Prime Minister won't follow any outsider's orders regarding measures that would sustain his popularity with the voters - the revenge of the markets on the government bonds - the Prime Minister's "oh, shit" moment, when he discovers that when you need to borrow, "he who has the gold makes the rules"
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Date: 2012-01-12 02:12 am (UTC)- a deterioration of the competitiveness of Hungarian workers
- the ending of a consumption-driven boom
- the government attempting to goose up consumption through various tricks to keep the economy going
- lots of people borrowing in CHF (esp. mortgages), providing a huge barrier to devaluing the currency as a way to restore competitiveness
- a semi-authoritarian government applying pressure on the independence of elections, the press, and the central bank
- something called the "final repayment of credits" law, which is tough on foreign investors
- long-term risk of insolvency of the state, starting to become short-term risk of illiquidity
- some sort of shouting match between the Prime Minister and the EU, IMF, etc., etc., probably revolving around the Prime Minister won't follow any outsider's orders regarding measures that would sustain his popularity with the voters
- the revenge of the markets on the government bonds
- the Prime Minister's "oh, shit" moment, when he discovers that when you need to borrow, "he who has the gold makes the rules"