Hungary Hopeless Unless Government Resigns
by Hungary was once the economic forerunner in its region, but is now lagging behind its peers. Unless the current government cabinet resigns, the country may not see the light at the end of the tunnel before 2013, according to internationally acclaimed economist and university professor Laszlo Csaba.
What’s the difference between the United States of America and the Republic of Hungary? The US is famous for Barack Obama, Johnny Cash and Bob Hope – while Hungary is famous for Ferenc Gyurcsany, no cash and no hope. This is hardly a joke in the current dire situation of the Hungarian economy that seems to have no way out of its current crisis unless the Hungarian Government resigns with immediate effect, One of Hungary’s leading economists, Laszlo Csaba, agrees, but adds, “I don’t imagine the Government will resign as (Prime Minister) Ferenc Gyurcsany’s cabinet is primarily concerned about its daily interests.” But Gyurcsany’s concern casts a dark shadow. If Hungary wants to change its Government it has until next week, as Magyar time is running out if they want any early general elections to coincide with the MEP elections. Such a move could be an encouraging jump-start for the country, according to Csaba. He believes that the international markets would prefer to see a leader in government that has authority to resolve the current economic crisis. Nevertheless Csaba believes that present cabinet is adamant about serving its full mandate and not concerned about Hungary’s deteriorating international relations or reviving its economy.
“They obviously feel they are irreplaceable, in this respect,” said Csaba. The economist suggests that such an early, profound resignation may save face for Gyurcsany and his reformed communists now running as the ruling Hungarian Socialist Party (MSzP). But clinging to their velvet seats could mean the end of the party (of which Gyurcsany is almost virtually self-appointed president). PREDICTABILITY NEEDED ”International investors want to see predictable action by the Government. But on the contrary the cabinet is constantly changing its plans daily.” He blamed the Government for having “missed the train” to adopt the European single currency, the Euro. ”The government should have tightened the budget in 2006 and 2007, but failed to do so.” Csaba said unless radical steps are taken Hungary’s economy would most like only start its revival in 2013. He suggested that no matter what actions are planned, its success would predominantly depend on who announces them and only a fraction would depend on its contents – relating to US President Barack Obama’s integrity, that won the heart of the American people, who now support his programmes for economic revival. Csaba feels that Gyurcsany has lost all creditability at home and in the international arena.
Liked it
