"Hungary says no danger of default" by Bloomberg News | June 7, 2010
NEW YORK — Hungary’s government reversed course over the weekend, saying there was no danger of default after it had spent two days telling the world the nation was at risk of a Greece-like crisis.
Analysts from the European Union to Moody’s Investors Service say the current message is correct. That, however, may not be enough to ease investor concern until Prime Minister Viktor Orban takes concrete steps to achieve the budget-deficit target set by the EU and the International Monetary Fund.
The only important people on the face of the planet and for whom we all work.
“It’s a pretty big change from one day to the next,’’ said Gyorgy Barcza, an economist at KBC Groep NV in Budapest. “It’s positive, but local assets may not recover quickly because the new government now has a credibility deficit and that takes time to overcome.’’
Actually, ONCE you lose your CRED it is GONE FOREVER, government -- and that is where BOTH GOVERNMENTS of the United States and America are right now!!!
Hungary’s domestic politics roiled global markets last week as officials in Orban’s week-old government compared the country to Greece, while claiming the previous administration had lied about public finances. The comments were flashed around the world, feeding concern that Europe’s sovereign debt crisis was spreading....
Yup, the bankers betrayed you, globalist servants in government, and your project is collapsing as fast a a World Trade Center tower on 9/11.
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Also see: Bankers Hunger For Hungary's Tax Loot
