Budapest needs IMF cash and its bitter medicine

November 21, 2011

Hungary is likely to be central Europe’s first casualty of euro zone crisis. Growth is poor, debt is high and a credit ratings downgrade to junk is likely. Disquiet over government policy is a problem and risks of deleveraging by Western banks are large. Hungary needs IMF funds.

EU can’t afford to be soft on Hungary

January 5, 2012

Too much is at stake to go easy on Budapest. Hungary’s current authoritarian policies would disqualify it for EU membership. The country needs an IMF-EU bailout. The rescuers should keep the pressure on populist Prime Minister Viktor Orban, even at the risk of a major clash.