HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Topics » Economy & Education » Economy (Group) » Move over, Greece, here c...

Sun Feb 5, 2012, 06:03 PM

Move over, Greece, here comes Hungary. [View all]

Does this sound familiar???

BUDAPEST (Reuters) - Hungary is seeking an international credit line of 15 to 20 billion ($20 to $26.3 billion) euros, the secretary of state heading the prime minister's office, Mihaly Varga, was quoted on Saturday as saying.

Hungary is seeking backup from the International Monetary Fund and the European Union to reassure investors it has financing even if it gets cut off from debt markets later this year.

The country's currency, the forint, sank to a record low against the euro a month ago, and its government bond yields rose above 11 percent on concerns that amid the euro zone crisis it may not be able to finance central Europe's highest debt burden compared to its economic output.

I honestly had no idea what the currency was called..interesting name.

0 replies, 716 views

Reply to this thread

Back to top Alert abuse