June 22nd, 2012

Quotable: György Matolcsy on reversing Hungary’s investment gap and “hand drain”

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“Instead of credit-driven consumption, we are heading toward savings-based investments, meanwhile a credit bubble worth thousands of billions of forints is bursting, which is the reason why there has been no turnaround in investments.”

Economy Minister György Matolcsy in an analysis of the Hungarian economy published in weekly Heti Válasz. According to Matolcsy, Hungary's economic success will soon slow and then reverse an ongoing brain drain and "hand drain" and many talented and skilled Hungarians will return to the country in a few years. [index.hu]

Democrat

The man is a genius. Where Keynes and Freedman sweated for years the good Mr M can sum things up in one succinct sentence. That it is unintelligible and utter trash matters not one iota to him and his boss.
oneill

I (rather like Mr Matolcsy) am no economic mastermind… but aren’t the two parts of that quote actually contradictory?

Also why would any sane investor or even small save trust enough in the band of crooks presently running this outfit to put one dollar into its banks or financial institutions?

Vik Turpin will just nick it anyway at some stage in the near future as he did with our pensions
Observation

Viktor keeps György around for those times he needs somebody to say something incoherent.
Erik D’Amato

Vik Turpin! Ha!