And see what happens. I don’t think any one knows what will. Most will be convinced of their own predictions, but ’tis a wise man…..

Good luck Hungary, hope you get thru it.

Absolutely and when ever she opens her mouth all anyone hears is ‘Hitler Hitler Hitler Hitler’. Not saying she is as bad as Hitler, but just that that is her image in Europe.

Agreed. The IMF have stated how they did not want us to guarantee the banks or bail out failed bondholders, it was the EU/ECB that decided to do that.

When the IMF are the only friend you have, you no that you are in a very rough area.

It’s actually their own government they should be concerned about given the mass concentration of power in the last couple of years.

It’s funny that Merkel is being accused of being a dictator (yawn!) when Orban far better fits that description given his constitutional changes.

ya, fina fail took the bale out in november 2010 and made a balls of this country…

two thumbs down indicate that people are beginning to already forget who got us into this mess… fina fail agreed to bail out our banks in April 2010 and signed up to an 85 billion Euro bail out in November 2010… the facts don’t lie…

https://www.youtube.com/watch?v=q2nA2szz8dY&feature=youtube_gdata_player. this man sums out up…

No they need to be arrested for the fraudsters and criminals they are and represent…

Government bonds (sovereign debt) can be bought by you or I. I sense an implication that the IMF is the sole lender of money to governments, this is simply not true. The “bondmarkets” that we hear so much about are private sources of finance for countries (to fund gap between expenditure and income). You can buy government bonds through companies such as Rabodirect for as little as €100. The IMF funds countries when their public finances are in such a bad state that they cannot affordably borrow money from the markets, due to risk of default (this risk reflected in the interest rate demanded). They impose austerity (reducing budget deficit by tax hikes/raise spending) to avoid bankruptcy of the country and maintain fiscal stability. The government tax take towards the end of the FF years relied strongly on cyclical taxes (ie Capital gains), and when markets crashed this tax take shrunk massively. Had we a more balanced tax system and controlled expenditure then we might not have had to borrow so much money to fund deficits and likely would not have needed a bailout. I hope this is taken in the politically neutral spirit it is meant so that all sides can agree on some fundamental facts about our economy..

Banks, pension and investment funds, other countries, supranational agencies (including IMF), individuals, corporations etc

What’s your point?

I think this is a relevant question for a major point….interest. If the western world owes 45 trillion, then interest is payable and being raised on that sum. And its the taxpayers of western society that fund that interest. If, for instance, Germany has French bonds to the value of 5 billion, and France has German bonds to the value of 3 billion, then interest and charges ar being raised on 8 billion, paid for and funded by French and German taxpayers. However if there was an exchange which left Germany holding 2 billion French bonds, it would cost ordinary taxpayers a fraction of the money needed for the interest, which is the real cost in all this.

Now imagine the potential savings for low income and cash strapped citizens across the western world if the burden of interest was slashed from soverign debt contra entries. Even if the 45 trillion was reduced by a mere 15%, the saving in national budgets would be immense, services wouldnt suffer as badly as they are, people could survive a little better. But hey, as long as we have greedy little sh*ts prepared to walk over the corpses of decent people we will have this insane economic model ruling the so-called civilised western society.

The same family that have being manipulating nations, commencing and funding both sides of international and civil wars and generally causing global genocide for several centuries now.

The same people who own and dictate “free” world editorial opinions.

Go Hungary, Iceland and Venezula :)

Dominick, the best of luck introducing a few basic economic facts into the debate!

Mark, if Germany pays France interest on 3bn and France pays Germany interest on 3bn then if the rates are the same both countries receive the same amount they pay, ie net zero.
are you forgetting that the bond holder receives the interest?

No I’m not, but chances are the rates generally aren’t the same. My simplistic view is based upon trying to reduce any form of tax burden upon citizen taxpayers of countries, not just Irish. In fact I’d go so far as saying that if we could identify those bondholders like a George Soros or his ilk, who have personal wealth in the tens & hundreds of millions or billions, then sorry, we’re writing it off, I’m more interested in the ordinary people of Europe having food on their table and not having to scoure bins in Greece. 45 trillion is an obscene figure which, through a series of intelligent, fair and sensible measures, could be reduced, thus reducing both the capital and interest burdens on people, which should be the prime directive of any government.

they certainly do fry everyone they get their hands.burnt to a crisp.

Maybe, my point was that Hungary, like Ireland, have fallen into the miconception that a sizeable percentage of the world’s population knows or cares about their economic situations. Peripheral nations who think they’re at the heart of the action.

Troll-bait. Yawn. As all bored school kids know, draw a “little moustache” on ANY photograph of a person and that person looks “uncannily” like a certain dictator. if you’re going to be xenophobic and offensive , at least try to be original…

http://4.bp.blogspot.com/-tXXWfiw9KoY/ThouUuyZaTI/AAAAAAAAPdo/TpCUyHTh-h8/s1600/Angela-nazi.jpg

If you call criminal loan sharks the hand that feeds you a good thing. You are very naive or brainwashed. Wake up…

@Dd, Well said.

Criminal loan sharks or not, their money is a better option than letting your country go bankrupt!!

YFG mentality in a nutshell.

Really David. Iceland disagrees.

Why because they wont liedown for the elite are you even Human.

No Jack because the Hungarian government is made up by a right wing pseudo fascist party that think tough talk will scare reality away! Hungary’s woes are all of her own making and she’ll drown in debt before the lunatics in charge of the country come to their senses.

Look Kingston their country is their country.Do you think its a good thing that the I.M.F should be in any country ?