Hungary and the loan: massive

I have written the other day about the special loan(s) offered to Hungary to fight the financial crisis. Now I finally managed to find numbers about the size of Hungary’s budget to put things into perspectve. And it made me speechless. The annual Hungarian state budget has a size of around 50 bn Euro (s. their national office of statistics). Now with a loan of around 20 bn Euro (plus the extra 5 bn from the ECB) this counts for 40% of Hungary’s budget. Have I ever seen anything like that?!!!

Hungary, you have a problem.

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