Thursday, May 30, 2013

Hungary hails victory of 'Orbanomics'...Because they ignored Brussels!

The leaflets dropping into Hungarians' mailboxes this month told citizens the economy has turned a corner, whatever foreign critics might think.
Emblazoned with the red, white and green of the national flag, the government-funded brochure hailed the steps conservative Prime Minister Viktor Orban had taken. "Hungary is doing better," it read.

Orban can point to two significant developments to back up the leaflets' claims, and justify his rejection of orthodox austerity policies which have helped to push euro zone countries such as Greece into downward economic spirals.

First, the state statistics office announced that the economy grew 0.7 percent in the first three months of this year from the previous quarter, taking Hungary out of its second recession in the past few years.