World News Insights
1-3 Minute Gist
Search, personalize, or simply browse. Follow the world around you from gist and context to insights.
Who we are | Our Credo | Ways of using Lyrarc | FAQ | Send Feedback | First Letter From the Editor
Sign up. It's free and easy to use
Create an account
to personalize your feed of articles and topics.
All Topics Article
Borrowers in Hungary Learn Tough Lessons
Keywords:
Hungary's story since the fall of the Berlin Wall- a 36% decline in the forint relative to the Swiss Franc since 2004 and half of all mortgage loans denominated in Swiss Francs
11/13/2014
The experience of borrowers since Hungary joined the European Union in 2004 has not been a happy one. Borrowers with little knowledge of the risks in currency markets borrowed in Euros and Swiss Francs. By 2006 growth slowed, unemployment increased, and the economy stuck with litle or no growth since 2006 is smaller now than in that year. The Orban government has taken steps to reduce monthly payments with an increase in the total amount owed, converting loans to forints, and imposing about $3.5 billion in compensation costs to borrowers on the banks- relief that still leaves borrowers in debt that may never be paid off and unable to borrow for other needs. This has increased the popularity of the Orban government, yet no one has emerged a winner. It has also soured Hungary's experience with free markets.
Grouped Articles
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
New York Times 01/15/2015
Swiss Move Roils Global Markets
Wall Street Journal 01/16/2015
Here's What the Swiss Central Bank Just Did and Why Its Such a Shocker
BusinessWeek 01/18/2015
Central Europe and the Swiss franc: Currency risk
Economist 01/18/2015
Faces in Hungary during the eurozone crisis in 2011-2013
06/04/2010
The effects of the eurozone crisis on everyday life and the people of Hungary.
Grouped Articles
Hungary Warns of Greek-Style Crisis
New York Times 06/04/2010
Hungary, Trying to Calm Markets, Works on Economic Plan to Boost Credibility
Wall Street Journal 06/07/2010
How Did Hungary’s Election Become a Circus?
New York Times 03/01/2014
Wall Street Journal 08/02/2014
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
After 25 Years, Central Europe Still Playing Catch-Up
Wall Street Journal 11/17/2014
Economic growth in Central and Eastern European economies of Czech Republic, Slovakia, Hungary and Romania
02/07/2012
Grouped Articles
Koruna Dives as Czech Central Bank Intervenes
Wall Street Journal 11/10/2013
Czech PM Says Euro Adoption Possible as Early as 2020
Wall Street Journal 01/17/2014
Protests Drive Out Romania Premier
Wall Street Journal 02/07/2012
Wall Street Journal 08/02/2014
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
After 25 Years, Central Europe Still Playing Catch-Up
Wall Street Journal 11/17/2014
Hungary's currency, the Forint
03/07/2009
Grouped Articles
Selloff's Spread to Europe Is Sign of Broad Fear
Wall Street Journal 01/31/2014
Banks' Message Spurs Slide in Hungary's Forint
Wall Street Journal 03/07/2009
Hungarian Intervention Plan Stems Forint's Decline
Wall Street Journal 03/09/2009
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Hungary's economy
06/04/2010
Grouped Articles
Hungary Premier Credits His 'Unorthodox' Course for Economic Rebound
Wall Street Journal 07/19/2013
Hungary Warns of Greek-Style Crisis
New York Times 06/04/2010
Hungary, Trying to Calm Markets, Works on Economic Plan to Boost Credibility
Wall Street Journal 06/07/2010
Wall Street Journal 08/02/2014
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Central Europe and the Swiss franc: Currency risk
Economist 01/18/2015
The 2014 elections in Hungary
04/07/2014
Grouped Articles
Viktor Orban Wins a Second Term in Hungary
New York Times 04/07/2014
Wall Street Journal 08/02/2014
New York Times 08/01/2014
Hungary Drops Internet Tax Plan After Public Outcry
New York Times 10/31/2014
Viktor Orban Steers Hungary Toward Russia 25 Years After Fall of the Berlin Wall
New York Times 11/07/2014
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Emerging market currencies in Europe in the 2014 currency crisis- Hungary's Forint, Poland's Zloty and Czech Republic's Krona
03/07/2009
Hungary has a current account surplus but has debt coming up for renewal. Poland's debt is 58% of GDP, lower than the EU. Poland is renewing a credit line from the IMF.
Grouped Articles
Selloff's Spread to Europe Is Sign of Broad Fear
Wall Street Journal 01/31/2014
Amar Bhidé: In Praise of the Beleaguered Euro
Wall Street Journal 05/07/2012
Banks' Message Spurs Slide in Hungary's Forint
Wall Street Journal 03/07/2009
Hungarian Intervention Plan Stems Forint's Decline
Wall Street Journal 03/09/2009
Poland Defends Economy, Sees Euro Link This Year
Wall Street Journal 03/14/2009
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Hungary- politics and government
01/04/2011
Grouped Articles
Hungary Premier Credits His 'Unorthodox' Course for Economic Rebound
Wall Street Journal 07/19/2013
How Did Hungary’s Election Become a Circus?
New York Times 03/01/2014
Viktor Orban Wins a Second Term in Hungary
New York Times 04/07/2014
Wall Street Journal 08/02/2014
New York Times 08/01/2014
Hungary Drops Internet Tax Plan After Public Outcry
New York Times 10/31/2014
Hungary's prime minister Viktor Orban and economic policy
06/07/2010
Grouped Articles
Hungary Premier Credits His 'Unorthodox' Course for Economic Rebound
Wall Street Journal 07/19/2013
Hungary, Trying to Calm Markets, Works on Economic Plan to Boost Credibility
Wall Street Journal 06/07/2010
How Did Hungary’s Election Become a Circus?
New York Times 03/01/2014
Viktor Orban Wins a Second Term in Hungary
New York Times 04/07/2014
Wall Street Journal 08/02/2014
Viktor Orban Steers Hungary Toward Russia 25 Years After Fall of the Berlin Wall
New York Times 11/07/2014
Hungary's currency, the forint, in the global financial crisis of 2008-2009
03/07/2009
Grouped Articles
Banks' Message Spurs Slide in Hungary's Forint
Wall Street Journal 03/07/2009
Hungarian Intervention Plan Stems Forint's Decline
Wall Street Journal 03/09/2009
Politics Add to Economic Turmoil in Hungary
New York Times 04/02/2009
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Turkey, Hungary, Poland and Romania, and asset sales by European banks to raise capital in Nov. 2011
03/14/2009
Eastern European countries that would see declining growth as a result of the eurozone crisis, as banks in Europe raise capital through asset sales of sovereign bonds.
Grouped Articles
IMF Urges EU Banks To Raise Capital
Wall Street Journal 09/22/2011
Turkish banks: The lure of the Bosphorus
Economist 05/27/2013
Poland Defends Economy, Sees Euro Link This Year
Wall Street Journal 03/14/2009
Hungary Drops Internet Tax Plan After Public Outcry
New York Times 10/31/2014
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Eastern Europe Vulnerable in Debt Crisis
Wall Street Journal 11/11/2011
Viktor Orban of Hungary and the world of liberal democracies of the European Union- shifting positions in 2014 and 2015
08/01/2014
Grouped Articles
Wall Street Journal 08/02/2014
New York Times 08/01/2014
Hungary Drops Internet Tax Plan After Public Outcry
New York Times 10/31/2014
Viktor Orban Steers Hungary Toward Russia 25 Years After Fall of the Berlin Wall
New York Times 11/07/2014
Borrowers in Hungary Learn Tough Lessons
New York Times 11/13/2014
Central Europe and the Swiss franc: Currency risk
Economist 01/18/2015
We took a different way to help millions around the world build educated informed mindsets that affects and shapes their lives. For a future that is open, global and digital, with everyone having access to high quality information. We believe in the renewal of America, renewal of Europe, the renewal of India, the rest of Asia, Latin America and Africa. The renewal of our supply chains, health, education, infrastructure, as we rebuild our countries after the pandemic. Literacy and knowledge we believe cannot thrive and grow in a world of web bots, web crawlers, or AI. This requires human curiosity, human learning, and human imagination. We take as inspiration the saying- “One has to be free, and as broad as sky. One has to have a mind that is crystal clear, only then can truth shine in it.” Every contribution whether big or small is precious- in this crisis and ahead.
Support Lyrarc from as small as $1
Terms and Conditions | Copyright Policy | Privacy Policy | Contact Us