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Hungary And The Euro
While the Hungarian government has been planning since 2003 to replace the Hungarian forint with the euro, , there is no target date and the forint is not part of the European Exchange Rate Mechanism (ERM II). An economic study in 2008 found that the adoption of the euro would increase foreign investment in Hungary by 30%, although current governor of the Hungarian National Bank and former Minister of the National Economy György Matolcsy said they did not want to give up the country's independence regarding corporate tax matters. Adopting the euro Under the socialist governments between 2002 and 2010 Hungary originally planned to adopt the euro as its official currency in 2007 or 2008. Later 1 January 2010 became the target date, but that date was abandoned because of an excessively high budget deficit, inflation, and Government debt, public debt. For years, Hungary could not meet any of the Maastricht criteria. After the 2006 election, Prime Minister Ferenc Gyurcsány introduc ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Forint
The forint (sign Ft; code HUF) is the currency of Hungary. It was formerly divided into 100 fillér, but fillér coins are no longer in circulation. The introduction of the forint on 1 August 1946 was a crucial step in the post-World War II stabilisation of the Hungarian economy, and the currency remained relatively stable until the 1980s. Transition to a market economy in the early 1990s adversely affected the value of the forint; inflation peaked at 35% in 1991. Between 2001 and 2022, inflation was in single digits, and the forint has been declared fully convertible. In May 2022, inflation reached 10.7% amid the war in Ukraine and economic uncertainty. As a member of the European Union, the long-term aim of the Hungarian government may be to replace the forint with the euro, although under the current government there is no target date for adopting the euro. History The forint's name comes from the city of Florence, where gold coins called '' fiorino d'oro'' were minted fro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Economic Times
''The Economic Times'' is an Indian English-language business-focused daily newspaper. It is owned by The Times Group. ''The Economic Times'' began publication in 1961. As of 2012, it is the world's second-most widely read English-language business newspaper, after ''The Wall Street Journal'', with a readership of over 800,000. It is published simultaneously from 14 cities: Mumbai, Bangalore, Delhi, Chennai, Kolkata, Lucknow, Hyderabad, Jaipur, Ahmedabad, Nagpur, Chandigarh, Pune, Indore, and Bhopal. Its main content is based on the Indian economy, international finance, share prices, prices of commodities as well as other matters related to finance. This newspaper is published by Bennett, Coleman & Co. Ltd. The founding editor of the paper when it was launched in 1961 was P. S. Hariharan. The current editor of ''The Economic Times'' is Bodhisattva Ganguli. ''The Economic Times'' is sold in all major cities in India. Other ventures In June 2009, The Economic Times launched a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Competitiveness Pact
The Euro-Plus Pact (or Euro+ Pact, also initially called the Competitiveness Pact or later the Pact for the Euro) was adopted in March 2011 under EU's Open Method of Coordination, as an intergovernmental agreement between all member states of the European Union (except Croatia, Czech Republic, Hungary, Sweden and UK), in which concrete commitments were made to be working continuously within a new commonly agreed political general framework for the implementation of structural reforms intended to improve competitiveness, employment, financial stability and the fiscal strength of each country. The plan was advocated by the French and German governments as one of many needed political responses to strengthen the EMU in areas which the European sovereign-debt crisis had revealed as being too poorly constructed. The pact was constructed as an attempt to incentivize increased implementation of structural reforms by each participating EU member state, to improve their performance within ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Debt-to-GDP Ratio
In economics, the debt-to-GDP ratio is the ratio between a country's government debt (measured in units of currency) and its gross domestic product (GDP) (measured in units of currency per year). While it is a "ratio", it is technically measured in units of year, and can be interpreted as the number of years a country needs to pay off its entire debt, if all its GDP is devoted towards it. A low debt-to-GDP ratio indicates that an economy produces goods and services sufficient to pay back debts without incurring further debt. Geopolitical and economic considerations – including interest rates, war, recessions, and other variables – influence the borrowing practices of a nation and the choice to incur further debt. It should not be confused with a deficit-to-GDP ratio, which, for countries running budget deficits, measures a country's annual net fiscal loss in a given year ( total expenditures minus total revenue, or the net change in debt per annum) as a percentage share of tha ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Viktor Orbán
Viktor Mihály Orbán (; born 31 May 1963) is a Hungarian politician who has served as prime minister of Hungary since 2010, previously holding the office from 1998 to 2002. He has presided over Fidesz since 1993, with a brief break between 2000 and 2003. Orbán studied at the Faculty of Law of Eötvös Loránd University and briefly at the University of Oxford before entering politics in the wake of the Revolutions of 1989. He headed the reformist student movement the Alliance of Young Democrats (), the nascent Fidesz. Orbán became nationally known after giving a speech in 1989 in which he openly demanded that Soviet troops leave the country. After the end of Communism in Hungary in 1989 and the country's transition to multiparty democracy the following year, he was elected to the National Assembly and led Fidesz's parliamentary caucus until 1993. Under his leadership, Fidesz shifted away from its original centre-right, classical liberal, pro-European platform toward right ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mihály Varga
Mihály Varga (born 26 January 1965) is a Hungarian politician, current Minister of Finance (previously Minister of National Economy) since 2013. He also served as Minister of Finance between 2001 and 2002. He has been a member of Fidesz since the party's founding in 1988. He was one of the party's four vice presidents between 2005 and 2013. Early life and education Varga studied at Gábor Áron Secondary School in Karcag and finishing in 1983. He graduated in trade from Karl Marx University of Economic Science of Budapest in 1989. After defending his thesis he served as an auditor at the State Construction Company No. 43 in Budapest, and then became an economist at the East Hungary Water Planning Company in Szolnok in 1990. Political career At the end of December 1988 he joined the Alliance of Young Democrats (Fidesz). He was the founder of the Szolnok county Fidesz group. He became a member of Fidesz's National Board in 1990, and served as its chairman in 1992-93. From 1993 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Businessweek
''Bloomberg Businessweek'', previously known as ''BusinessWeek'', is an American weekly business magazine published fifty times a year. Since 2009, the magazine is owned by New York City-based Bloomberg L.P. The magazine debuted in New York City in September 1929. Bloomberg Businessweek business magazines are located in the Bloomberg Tower, 731 Lexington Avenue, Manhattan in New York City and market magazines are located in the Citigroup Center, 153 East 53rd Street between Lexington and Third Avenue, Manhattan in New York City. History ''Businessweek'' was first published based in New York City in September 1929, weeks before the stock market crash of 1929. The magazine provided information and opinions on what was happening in the business world at the time. Early sections of the magazine included marketing, labor, finance, management and Washington Outlook, which made ''Businessweek'' one of the first publications to cover national political issues that directly impacted the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hungarian Parliamentary Election, 2010
Parliamentary elections were held in Hungary on 11 and 25 April 2010 to elect the members of the National Assembly. They were the sixth free elections since the end of the communist era. 386 Members of Parliament (MPs) were elected in a combined system of party lists and electoral constituencies. Electoral law in Hungary requires candidates to gather 500 signatures from citizens supporting their candidacy. In the first round of the elections, the conservative party Fidesz won the absolute majority of seats, enough to form a government on its own. In the second round, the alliance of Fidesz and the Christian Democratic People's Party (KDNP) won enough seats to achieve a two-thirds majority required to modify major laws and the country's constitution. Background Fidesz's landslide victory was a result of massive dissatisfaction with the Hungarian Socialist Party (MSZP), which had been in government since 2002. One event that provoked an especially strong backlash was the revela ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fidesz – Hungarian Civic Union
Fidesz – Hungarian Civic Alliance (; hu, Fidesz – Magyar Polgári Szövetség) is a right-wing populist and national-conservative political party in Hungary, led by Viktor Orbán. It was formed in 1988 under the name of Alliance of Young Democrats () as a centre-left and liberal activist movement that opposed the ruling Marxist–Leninist government. It was registered as a political party in 1990, with Orbán as its leader. It entered the National Assembly following the 1990 parliamentary election, although, it lost two seats after the 1994 election. Following the election, it adopted liberal-conservatism which caused liberal members to leave and to join the Alliance of Free Democrats. It then sought to form a connection with other conservative parties, and after the 1998 election, it successfully formed a centre-right government. It adopted nationalism in the early 2000s, but its popularity slightly declined due to corruption scandals. It served in the opposition betw ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Soft Euroscepticism
Euroscepticism, also spelled as Euroskepticism or EU-scepticism, is a political position involving criticism of the European Union (EU) and European integration. It ranges from those who oppose some EU institutions and policies, and seek reform (''Eurorealism'', ''Eurocritical'', or '' soft Euroscepticism''), to those who oppose EU membership and see the EU as unreformable (''anti-European Unionism'', ''anti-EUism'', or ''hard Euroscepticism''). The opposite of Euroscepticism is known as ''pro-Europeanism'', or ''European Unionism''. The main drivers of Euroscepticism have been beliefs that integration undermines national sovereignty and the nation state,''Euroscepticism or Europhobia: Voice vs Exit?'' |
Interim Government
A provisional government, also called an interim government, an emergency government, or a transitional government, is an emergency governmental authority set up to manage a political transition generally in the cases of a newly formed state or following the collapse Collapse or its variants may refer to: Concepts * Collapse (structural) * Collapse (topology), a mathematical concept * Collapsing manifold * Collapse, the action of collapsing or telescoping objects * Collapsing user interface elements ** ... of the previous governing administration. Provisional governments are generally appointed, and frequently arise, either during or after civil war, civil or foreign wars. Provisional governments maintain Power (social and political), power until a new government can be appointed by a regular political process, which is generally an election. They may be involved with defining the legal structure of subsequent regimes, guidelines related to human rights and political fre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gordon Bajnai
György Gordon Bajnai (; born 5 March 1968) is a Hungarian entrepreneur and economist, who served as the Prime Minister of Hungary from 2009 to 2010. Prior to that, he functioned as Minister of Local Government and Regional Development from 2007 to 2008, then as Minister of National Development and Economy from 2008 to 2009. In March 2009, following Prime Minister Ferenc Gyurcsány's announced resignation, Bajnai was nominated by the ruling Hungarian Socialist Party (MSZP) to become Hungary's next head of government. Bajnai became prime minister when the parliament passed a constructive motion of no-confidence against Ferenc Gyurcsány on 14 April 2009. He held the office until the formation of the Second Orbán Government following the 2010 parliamentary election. Returning to politics, Bajnai established Together 2014, a coalition of left-wing and liberal political movements and civil organizations, in October 2012. The movement would have been an umbrella organization of c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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