Worries over Hungary drive forint to one-year low

Hungary’s currency fell to a one-year low against the euro on the 4 June 2010 after a senior official, Peter Szijjarto, a spokesman for prime minister Viktor Orban, warned for the second time in two days about the weakness of its economy and public finances.

However on the 5 June 2010 Hungary attempted to distance itself from these claims, as the government indicated it was not in danger of default and would strive to meet the 2010 deficit target.

ESO: Background information: Economic Survey of Hungary, 2010 http://www.europeansources.info/record/economic-survey-of-hungary-2010/

ESO: Background information: Hungary claims it no longer needs IMF help http://www.europeansources.info/record/hungary-claims-it-no-longer-needs-imf-help/

BBC News, 4.6.10: Hungary debt fears worry markets http://news.bbc.co.uk/1/hi/business/10238928.stm

IMF: Country Report: Hungary and the IMF http://www.imf.org/external/country/HUN/index.htm

EurActiv, 7.6.10: Barroso: Hungary must speed up fiscal consolidation http://www.euractiv.com/en/enlargement/barroso-hungary-must-speed-up-fiscal-consolidation-news-494895

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