- Latest Popular Stories, Instablogs Community by Gabor-levai http://gabor-levai.instablogs.com/ - Latest Popular Stories powered by Instablogs Community. http://www.instablogs.com/site-img/insta-slogo.gif Instablogs Community http://gabor-levai.instablogs.com/ en-us Instascript 2.0 http://www.instablogs.com Mon, 10 Mar 2008 11:15:21 +0000 Black Friday in Budapest http://gabor-levai.instablogs.com/entry/black-friday-in-budapest/ http://gabor-levai.instablogs.com/entry/black-friday-in-budapest/ Gabor

Basically Hungary had a sudden financial crisis back in the summer of 2006, on the back of a massive “twin” deficit (ie fiscal and current account) problem, and subsequent to this the government introduced a series of “austerity measures”...

]]> Basically Hungary had a sudden financial crisis back in the summer of 2006, on the back of a massive “twin” deficit (ie fiscal and current account) problem, and subsequent to this the government introduced a series of “austerity measures” principally designed to try and correct the fiscal deficit situation. The core of this package was a downsizing of government spending (including a reduction in services and employment in the public sector), and an increase in social security contributions, charges for the state administered utility sector, and individual charges for clients in the state health and education system.

]]> Mon, 10 Mar 2008 11:15:21 +0000 Budapestblack fridayPolitics and SocietyHungary