THE EUROPEAN DEBT CRISIS – A VIEW FROM HUNGARY
THE EUROPEAN DEBT CRISIS – A VIEW FROM HUNGARY

Summary/Abstract: It is proper to claim that 2011 is the “year of Europe” in Hungarian economic policy making, and only partly because of the Hungarian presidency of the European Union (EU) in the first half of 2011. Subsequent government initiatives, such as the fiscal consolidation plan named after Kálmán Széll (a prominent statesman in Hungarian history), aimed at satisfying the policy requirements of the EU. European events dominate the economics news because of a growing number of financially distressed member states: Greece, Ireland, and Portugal. Hungary is not among them this time, but in our interconnected financial universe no economy is safe from the effects of crises in other countries.

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