Bank Of Baku

Greek-style debt crisis threatens Hungary

Greek-style debt crisis threatens Hungary
# 05 June 2010 08:22 (UTC +04:00)
Baku. Vahab Rzayev – APA-Economics. The Greek-style debt crisis threatens to diffuse to Central Europe after spokesman for Hungarian Prime Minister Peter Szijjarto said the previous government had manipulated budget figures and lied about the state of the economy, APA-Economics reports. He said the Hungarian economy was in a “very grave situation.” After the comments, the Hungarian currency slid and the yield on benchmark 10-year Hungarian bonds surged, to close at 8.1 percent from 7.4 percent on Thursday. The Budapest Stock Exchange Index closed down 3.4 percent, having fallen as much as 7.1 percent earlier in the day.
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