- EU / CROATIA : Zagreb Now Set To Become EU Member #28...In 2013.
- PHILIPPINES /USA : Stranded US Naval Warship Finally Dismantled.
- COSTA RICA: Currency Intervention Predicted As Colon Surges Vs USD.
- ITALY: 12 Dec UPDATE: Is Silvio's 'Friend'...Key Sex Trial Witness Ruby The Heart Stealer...On The Run? Ruby Finally Surfaces...In Mexico!
- PERU: Sand Fly Bite...Morphs Into Horror Story For American.
- SERBIA / LIBYA : Are Serbian Mercenary Pilots Bombing Protestors In Tripoli?
- BRASIL : Dilma Wins Port Privatization Approval From Congress.
- MUSIC FOR MONDAY: From SWEDEN / AZERBAIJAN : Eurovision Winner Loreen Sings "Euphoria."
- GUATEMALA : Court Throws Out Rios Montt Genocide Conviction; Trial Restart Ordered.
- VENEZUELA :6 March UPDATE: Shooting At Caracas Opposition Rally Wounds Capriles Supporter.
19 November 2011
It took a rapidly weakening currency...and 2 probable credit downgrades to junk status...for PM Viktor Orban to change his tune...and whistle for help from the IMF.
Orban says he will seek a credit line...but NOT loans from the IMF...to stave off the downgrades.
In the recent past...Orban has been highly critical of the IMF and its demands.
In 2008...Hungary received a $25.1 billion IMF-led bailout.
However, Orban did not renew a standby loan agreement last year.
With a new credit line...Orban will seek fiscal flexibility... but the IMF is unlikely to give it.