It is quite astonishing: Viktor Orbán’s heyday in Hungary began when, following the end of massive currency speculation (carry trades) that had massively overvalued the Hungarian forint, the forint plummeted and left many homeowners who had taken on debt in foreign currencies (Swiss francs or Japanese yen) due to low interest rates in enormous difficulty. Orban promised that the state would absorb a significant portion of the speculative losses – and won.
Economics
U.S. Securities and Exchange Commission: Ernst & Young to Pay $100 Million Penalty for Employees Cheating on CPA Ethics Exams and Misleading Investigation
Largest Penalty Ever Imposed by SEC Against an Audit Firm Read Here Photo: Avi1111 dr. avishai teicher licensed under the Creative Commons Attribution-Share Alike 3.0 Unported
National Politics
Reuters: Serbia’s ruling SNS set to win election, Vucic declares victory
President Aleksandar Vucic declared victory in a snap parliamentary election on Sunday, after pollsters projected his ruling Serbian Progressive Party (SNS) was on track to easily win. Based on votes counted in a sample of […]
Austerity
Reuters: France’s Macron reeling as tough stance against ‘yellow vests’ backfires
Sounds like a government in meltdown. Read here
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