Monday, January 9, 2012

As European Economies Stagnate (Or Get Worse), Leaders Warn Against Extreme Populism

Hungarian forints notes are seen in this photo illustration taken in Budapest, Friday. Analysts warn that Hungary's economy is approaching "meltdown" contributing to the downward spiral of the forint. Laszlo Balogh/Reuters

As Economies Teeter, Leaders In Europe Warn Against Extreme Populism -- Christian Science Monitor

Responding to a question on the latest European economic crisis in Hungary, Italy's minister of economic development warned: 'Our worst enemy right now is populism.'

Hungary's economy is approaching "meltdown," analysts warn, adding another financial crisis within Europe and raising concerns about more extreme populist moods gaining ground.

The forint, Hungary's currency, has been spiraling downward. The European Commission says the nation is expected to have the lowest growth and highest debt in 2012 among the former Soviet satellites of Eastern Europe.

Read more
....

My Comment:
I disagree with Italy's minister of economic development .... the worst enemy right now are politicians like him who propose the same remedies that got Europe into this debt crisis in the first place.

No comments: