March 2nd, 2009
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Gyurcsány says Hungary not in danger of “state bankruptcy”

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No danger is present of the country going bankrupt, Prime Minister Ferenc Gyurcsany said in an interview with a Saturday local newspaper.

“We have around 40 billion euros locked away. The reason there is so much in reserve is that we have put this amount aside as part of our agreement with the IMF,” Gyurcsany told Hajdu-Bihari Naplo.

Gyurcsany said that Hungary had got its oar in early and would reap the fruit of its prompt action in around six months’ time.

“Others are now only just lining up [for a loan]; we’ll see what they’ll say in half a years’ time,” he said.

The prime minister added that Hungary had this year only three billion euros of payment obligations.

“In comparison with 40 billion, three billion looks pretty reassuring I think. Any mention of state bankruptcy looks very much like […] a malevolent attempt to create a bad atmosphere,” said Gyurcsany.

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  1. fb says:
    March 2, 2009 at 8:34 am

    Why is he asking for more?

  2. singspiel says:
    March 2, 2009 at 9:30 pm

    Where are the “forty billion” euros locked away?
    And why did Gyurscany need to borrow from the IMF in the first place, if the country’s finances are in good shape!

    The last financial card Hungary has to play on the world financial stage is the adoption of the euro.. when will that be? Just after/or before the next election???!!!