WSJ/ Gordon Fairclough/ Marek Belka, the former IMF official now heading Poland's central bank believes that EU governments must start spending cuts and reduce debt loads or they may harm their neighbors. The zloty was dragged down with the Hungarian forint v the euro after the IMF and EU ended talks with PM Viktor Orban. They said Orban wasn't doing enough to cut spending. Belka believes only "moderate" austerity cuts are needed. (Foto of M.Belka)
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