Daily News Hungary economy

Budapest, June 27 (MTI) – Hungary was in the same financial situation in 2010 as Greece is now, but since then Hungary has embarked on a different path, economist Imre Boros said.

The achievements of the Hungarian government are acknowledged by money markets, he told public news channel M1 late on Friday.

As a result of the unorthodox economic policies of the Hungarian government more money has stayed in the country, he said. The country’s risk premium had fallen from 7 percent five years ago to 1.4 percent, Boros added.

He said the dilemma concerning the Greek crisis for the West was that if Greece’s debt is forgiven, other countries will want the same, but large creditors have not yet made calculations on the consequences of a Greek bankruptcy. If they make these background calculations Greece could go under, Boros insisted.

Source: http://mtva.hu/hu/hungary-matters

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