"A few days ago I saw a report that the IMF was breaking off negotiations with Hungary regarding a debt package. I knew what was next: a weakening currency and more downgrades. The downgrades came in spades.
Bloomberg reports Hungary Hit by Second Debt Downgrade to Junk on Orban’s Policies
Bloomberg reports Hungary Hit by Second Debt Downgrade to Junk on Orban’s Policies
Hungary lost its investment-grade rating at Standard & Poor’s, the second such downgrade in a month, increasing pressure on Premier Viktor Orban to obtain an International Monetary Fund backstop and reverse policies..."at http://globaleconomicanalysis.blogspot.com/2011/12/hungary-downgraded-to-junk-expect.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
