61–65 of 65 posts
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Czech republic sometimes does things its own way and it's even worse...
Staying out of the Euro (for now) hasn't been so bad. They're on track to be admitted eventually, but their euro-skeptic government probably slows that down...
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Staying out of the Euro (for now) hasn't been so bad. They're on track to be admitted eventually, but their euro-skeptic government probably slows that down...
well, that's debatable. It annoys normal folks (who have to exchange money when going abroad) and businesses (who have to hedge against exchange rate changes). And in the end when shit goes down in Hungary it takes CZK down too.
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The poster wrote "huge chunks", not "all". I can give an example very close to home about gov't influence here in Hungary, and that is the tech/IT sector. A huge chunk of tech/IT SMBs are directly or indirectly living off government contracts, grants, gov't companies or companies that have been privatized but retain close ties to the gov't (and are dumb). A new thing here in Hungary is EU grants, which is the same, d…
government influence != influencing the government to throw shit-loads of money at you
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well, that's debatable. It annoys normal folks (who have to exchange money when going abroad) and businesses (who have to hedge against exchange rate changes). And in the end when shit goes down in Hungary it takes CZK down too.
The upside is they can devalue their currency to address trade balance and solvency issues. Something Ireland, Greece, and Spain can't do. It beats the pants off trying to lower wages.
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The upside is they can devalue their currency to address trade balance and solvency issues. Something Ireland, Greece, and Spain can't do. It beats the pants off trying to lower wages.
Sure. Devaluation is a whole lot of pain and a political suicide, though