06 August 2010

HUNGARY: PM Orban's New Hungarian Revolt Vs IMF And Central Banker.

NYTIMES/ LANDON THOMAS Jr./         PM Viktor Orban continues stirring the populist pot by blaming central bank head Andras Simor for his nation's recent economic crisis. Plus, Orban wants to reduce Simor's huge $458,000 annual salary...by 75%. Orban's meddling makes the EU and the IMF uncomfortable. So does the PM's efforts to levy a new tax on banks.
As Landon Thomas observes Orban is tapping into the social resentments that got him into office and may spread to other nations as they try to impose fiscal discipline on their citizens.