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 "Moody’s has cut Hungary’s debt rating to below investment-grade, or “junk,” status, the agency announced late Thursday. The credit-rating agency revised Hungary’s rating downwards one notch to “Ba1” from “Baa3”, while affirming its negative outlook. more » "Tesco unlawfully fired a union official who had been kept under surveillance, the labour court ruled last week. Tesco spokeswoman Judit Iglodi-Csato had earlier claimed that the charge of surveillance was totally unfounded. more » By The Contrarian Hungarian: "If the IMF comes back, I am leaving," Viktor Orbán, Hungary’s prime minister was quoted to say just a few days ago. Since he ascended to power, fierce opposition to international organizations was the hallmark policy of his government, devised both for maintaining popularity with his voters and for justifying the unpredictable, “non-orthodox” economic policy of his finance minister, György Matolcsy. There is no other way to characterize today’s announcement that Hungary is seeking a deal with the IMF therefore than as surprising, stunning – impossible to explain. more » "In the framework of a European level research, TI Hungary prepares the National Integrity Study (NIS) this year. The National Integrity Study is aimed at identifying practical problems and legal shortcomings that allow corrupt cases to emerge, and formulating proposals to remedy them. The NIS will be published in 26 countries between 2010 and 2012. The project is supported by the European Commission and the Visegrad Fund, and it is coordinated by the Secretariat of Transparency International. more »|
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