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Sunday 12 Feb 2012
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UBS Says Hungary Might Default
"A sovereign default by Hungary is fifth on a list of top ten possible surprises in 2012 drawn up by Swiss investment bank UBS. The probability of default is seen as highest in Pakistan, Ukraine, Hungary and Croatia. UBS notes that Hungary’s state debt is high in relation to GDP, which is suffering from a poor growth outlook. more »

Hungarian State TV Report Downplays Protest


Hungarian State TV Report Downplays Protest
"M1’s Monday evening newscast broadcast footage showing only a few dozen anti-government protesters outside the Opera House, rather than the estimated tens of thousands who were present. M1 News failed to mention the number taking part in the demonstration, Népszabadság reports, and gave three times as much coverage to the Opera gala and the National Gallery exhibition than to the protest. more »

US Ambassador To Hungary Conspicuous Absence From Gov’t Celebrations Over New Constitution


US Ambassador To Hungary Conspicuous Absence From Gov’t Celebrations Over New Constitution
"US ambassador Eleni Tsakopoulos Kouna­lakis received an invitation to attend the government celebration marking the entry into force of the Basic Law on Monday night, but did not attend, Népszava reports. more »

Elaborate Excise Tax Scam Uncovered In Hungary


Elaborate Excise Tax Scam Uncovered In Hungary
"Tax and Customs Office (NAV) agents have captured a gang which had been trafficking in oil products from Austria and Germany, in a nationwide operation. The group reportedly deprived the state of Ft 1 billion in revenue by circumventing tax regulations in one of the most well-organised excise tax crimes of recent years, Magyar Hirlap writes. more »
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