InfoAnda - Hungary debt fears gnaw at euro |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

"The Sims" creator eyes the world beyond games | 7 August 2009
'Titanic' to return to the big screen, in 3D: report | 2 October 2010
Yahoo open to sell HotJobs for right price | 9 December 2009

Chavez claims Colombian troops entered Venezuela | 10 August 2009

Forum Views () Forum Replies ()

Read more with google mobile : Hungary debt fears gnaw at euro |

Edition: U.S. Article Comments (3) Save Email Print Reprints Most Popular Most Shared BP hopes to divert most of its Gulf oil gusher | Video 2:32am EDT Israel shadows new Gaza-bound ship: activists | Video 3:22am EDT Verizon may be alone in following AT&T rate change 04 Jun 2010 Israel intercepts new Gaza-bound aid ship: activist 12:16am EDT WRAPUP 1-BP hopes to divert most of its Gulf oil gusher 2:01am EDT U.S. says weighing new options over North Korea | Video 1:53am EDT Autopsy shows Gaza activists were hit 30 times: report 04 Jun 2010 New Apple iPhone on tap but may fail to dazzle 04 Jun 2010 McDonald's recalls 13.4 million "Shrek" drinking glasses 04 Jun 2010 UPDATE 2-BP's cap funneling oil to the surface-Coast Guard 04 Jun 2010 Autopsy shows Gaza activists were hit 30 times: report 04 Jun 2010 Israel shadows new Gaza-bound ship: activists | Video 3:22am EDT Israel intercepts new Gaza-bound aid ship: activist 12:16am EDT McDonald's recalls 13.4 million "Shrek" drinking glasses 04 Jun 2010 BP hopes to divert most of its Gulf oil gusher | Video 2:32am EDT Verizon may be alone in following AT&T rate change 04 Jun 2010 Kitten survives wash and spin in a washing machine 27 May 2010 Q&A: Is Israel's naval blockade of Gaza legal? 02 Jun 2010 China ex-premier's memoirs defend 1989 bloodshed 04 Jun 2010 Hormone patch may be safer for women 03 Jun 2010 Hungary debt fears gnaw at euro Robert MacMillan NEW YORK Fri Jun 4, 2010 5:06pm EDT Related News Analysis: Hungary rekindles investor fears over emerging Europe Fri, Jun 4 2010 A woman walks past a money changer in Budapest June 4, 2010. Credit: Reuters/Laszlo Balogh NEW YORK (Reuters) - The possibility of a Hungarian debt crisis pushed the euro to a four-year low against the dollar on Friday and reignited fears more Eastern European nations could reveal financial frailties. World The new Hungarian government spooked investors and knocked more than 2 percent off its currency, the forint, versus the euro, after a prime minister's spokesman said he supported the view the country had only a slim chance of avoiding the kind of debt crisis that plunged Greece into financial instability. "In Hungary the previous government falsified data. In Greece, they also falsified data. In Greece the moment of truth has arrived. Hungary is still before that," said Prime Minister Viktor Orban's spokesman Peter Szijjarto at a news conference. The central bank rushed to reassure investors Hungary's budget was sustainable. It said it had an account surplus and that external financing capacity should remain positive in the next two years. The bank also said Hungary's deficit could be 4.5 percent of GDP, while analysts see a deficit of 5 percent. Both are above the target of 3.8 percent. Worries about Hungary have reignited market concern over the fiscal health of Eastern European nations, though many analysts believe the region's sound economic fundamentals would prevent a Greek-style debt crisis. "The market fears another Greece situation ... Fear is taking its toll," said Marc Chandler, analyst at Brown Brothers Harriman. Eastern European stocks are down 8.5 percent this year, underperforming broader emerging equities, which have fallen 7.7 percent in the same period. "If you're a fund manager sitting in Greenwich, Connecticut, and you see Europe going down the pan, you get rid of everything," said Capital Economics economist Neal Shearing. The euro fell as low as $1.1972, according to EBS trading platform. Selling pressure started after a disappointing U.S. jobs report. The single currency hit its lowest against the dollar in more than four years after comments by French Prime Minister Francois Fillon on exchange rates. He said he was not concerned by the current level of the euro to the dollar and saw only good news in the parity between the currencies [ID:nLDE6531E6]. Later, the remarks were clarified, saying his reference to parity was about the general evolution of the exchange rate between the euro and the dollar. Hungary's news and the U.S. jobs report hurt major U.S. stock indexes. The Dow Jones Industrial Average, S&P 500 Index and Nasdaq Composite Index, ended the day down more than 3 percent. The S&P 500 closed below the May 6 "flash crash" intraday low of 1,065.79, and at its lowest level since February 8. For the week, the Dow fell 2 percent, while the S&P fell 2.3 percent and the Nasdaq 1.7 percent. JOBS DATA BLUES U.S. government data released Friday showed the economy added fewer jobs in May than expected, with many of them temporary hirings for the U.S. Census, which the government conducts once a decade. Nonfarm payrolls rose by about 431,000 jobs on the surge in government hiring, but private employment, which measures the labor market's strength, rose 41,000, a number that analysts said was disappointing. Still, they said it was unlikely that the economy would slip into recession. Companies are spread too thin on labor and cannot increase working hours indefinitely to maintain output, they said. "We do not yet have the makings of a double-dip, and we still believe that private sector job creation will gradually improve over the rest of the year," said Nigel Gault, chief U.S. economist at IHS Global Insight in Lexington, Massachusetts. It was the fifth monthly increase in employment. The report also showed that the unemployment rate dropped to 9.7 percent from 9.9 percent in April, although the decrease reflected workers leaving the job market. (Reporting by Krisztina Than in Budapest; Sujata Rao and Sebastian Tong in London; Leah Schnurr, Nick Olivari and Vivianne Rodrigues in New York and Crispian Balmer and Sophie Louet in Paris. Writing by Robert MacMillan; Editing by Andrew Hay). World Comments See All Comments (3) | Post Comment Jun 04, 2010 5:37pm EDT Maybe they are just trying to ask Germany for a bailout? Seems like a good trend if you want low interest rates and plenty of Euros to keep your economy afloat. WAKE UP GERMNAY, its time to break apart the EURO. These debt laided countries will only suck money out of the industralized countries on Europe. localmotionman Report As Abusive Jun 04, 2010 7:00pm EDT This whole thing sounds like a form of extortion to me. May be the euro zone members should look at if corrupt government members are at the center of Hungary’s alleged problems before jumping to the rescue with large sums of money. If the government want a bailout then may be the IMF and EU should lend them money based on public assets, restricted tax revenues or cash flow( with seats in their Parliament. In other words, if they want money then put up their public assets. Obviously they don’t need to pay a government officials who can’t manage the affairs of the state and ensure state solvency. The loss of power and public assets for the rights to other people’s money may be the only thing they will understand. ytrue Report As Abusive Jun 04, 2010 11:07pm EDT Its the same thing that is happening in America with states like California and Florida asking the federal government for financial support. Since the economy is bad, it slows down sources of income from manufacturing to tourism. And Hungary has just changed administrations and is still in the process of converting their currency into the euro so there is bound to be some problems. The EU needs to support all their countries in order to develop further. For instance, I am sure the USA does not look at each state as GDP but as the country as a whole. Financially, it would be a good time to convert us dollars into euros for a long-term investment considering it will eventually go back up in price and you can convert it back into us dollars for a high profit. techaccount Report As Abusive See All Comments (3) Add a Comment *We welcome comments that advance the story directly or with relevant tangential information. We try to block comments that use offensive language or appear to be spam and review comments frequently to ensure they meet our standards. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. © Copyright 2010 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts Venture Capital Journal International Financing Review Project Finance International PEhub.com PE Week FindLaw Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Saturday, 5 June 2010
Ukraine disappoints Russia on Georgia rebel regions
US firm launches rocket on test flight
Afghan conference calls for talks with militants
Myanmar seeking to develop nuclear weapons: report |
Estonia keen to host EU's future IT agency: minister
Hungary raises specter of Greece |
G20 'reassured' by stabilisation plans: Lagarde
Defiant activist ship steams on towards Gaza
GlobalEnglish an Internet coach for language of business
Low IQ increases men's suicide risk: study
McDonald's recalls 12 mln tainted 'Shrek' glasses
Lead poisoning from mining kills 163 in Nigeria |
BP Cautiously Optimistic As It Siphons Oil Through Containment Cap
Facebook vandal denied bail after death threats
Pope calls for 'desire for harmony' in divided Cyprus
Oil Blobs Floating Onto Pensacola Beach
Qaeda in Iraq struggling after leadership blow: U.S. |
Wal-Mart Announces $15 Billion Share Buyback Program
Twitter touted as major force behind opposition victory
Disney Orders 4th Season Of "Wizards Of Waverly Place" And Film Sequel
Open source Linux wins Quebec court case against Microsoft
McDonald's Voluntarily Recalls 12 Million Shrek Glasses Over Cadmium Concerns
Chile begins to expel Dutch murder suspect to Peru |
US Cyber Command chief warns of 'remote sabotage'
Kurds say small unit of Iranian troops enters Iraq |
Deng dipper consigns France to defeat
SKorea formally asks UN to respond to ship sinking
Hackers plant viruses in Windows smartphone games |
AOL shares up on Microsoft bid target talk |
Baseball seeks halt to porn, indecency on MLB.com |
Robert Redford attacks big oil, politics on spill |
Trash-coated 'hotel' set up in Rome
Ferran Adria to open new eatery in Barcelona
At China's World Expo, a muted approach to democracy
World Cup wines blur South African colour line
Tokyo screenings of dolphin film cancelled after threats
Japanese conductor Ozawa cancels more events
Wenders hails 3D as 'ideal tool' for documentaries
Iraqi cinemas struggle to restore former glory
European nations seal divorce law pact
Kristen Stewart calls rape remark enormous mistake |
Justin Bieber wins fans by working like an old pro |
Robert Redford attacks big oil, politics on spill |
Foreign troop death toll in Afghanistan hits 230
Flotilla raid goes viral as Israel floods YouTube
Dutch murder suspect handed over to Peru police: AFP
Israel shadows new Gaza-bound ship: activists |
Afghan conference calls for talks with Taliban
Google to give private Wi-Fi data to European regulators: FT
Aid ship intercepted by Israeli troops: Gaza committee
U.S. says weighing new options over North Korea |
US employment report sparks global recovery fears
Nadal calls truce with title rival Soderling
Autopsy shows Gaza activists were hit 30 times: report |
Private US firm launches rocket on test flight
Dow hits four-month low on weak jobs report
US stocks plunge, Dow down over 3.0 percent
Hungary debt fears gnaw at euro |
Privately Developed Rocket Launched From Cape Canaveral Air Force Station
Tea Party Candidate Surges Ahead In Nevada Senate Race
Japan PM-elect picks Noda for fin minister: report |
White House Denies Improper Influence in Primary Elections
MasterCard Launches MoneySend Service For iPhone
U.N. to send extra police to post-quake Haiti |
U.S. Markets Tumble On Employment Data
Teen breaks Cleveland drought, wins Spelling Bee
Reforms help states cut foster-care populations
Minimum and maximum temperatures in Celsius
US defense chief accuses NKorea of recklessness
Press laments Japan's football team after loss to I.Coast
Japan's new PM scrambles to form cabinet
China exults in shock defeat of France
Bangladesh mourns dead in deadliest fire
Manny Pacquiao named Fighter of the Year
Delhi's 'tongas' forced to ride into the sunset
India pledges to engage Pakistan despite concerns
Verizon may be alone in following AT&T rate change |
New Zealand says no to Rocky Horror's Riff Raff
G20 set to disagree on banking reform
Hackers plant viruses in Windows smartphone games |
S.Korean firms sign deal on Argentine lithium project
Honda says Chinese labor dispute has been settled
G-20 finance chiefs mull deficits, banking rules
China to review plans for Agricultural Bank's IPO
Laurie Anderson performs Opera House dog concert
US mixed marriages hit record high: study
Lil Jon returns with new energy, new album |
Dolphin hunt film screenings cancelled in Tokyo |
Michael Franti channels health scare into Sunshine |
Chace Crawford busted for pot possession |
Album sales plummet to lowest total in decades |
Charlie Sheen faces a most uncommon jail in Aspen |
Medvedev hopes 'irresponsible' Iran listening
Medvedev urges global eco-disaster fund
British troops have to stay in Afghanistan: Fox
Militancy-hit Pakistan ups defense spending by 17 percent |
Bomb at Afghan governor office kills 1, wounds 14
Bomb outside Afghan governor's office wounds 6
G20 warns of major challenges to global recovery
Japan ruling party support leaps on new leader: poll |
Berlin, Moscow eye quick U.N. move on Iran sanctions |
Obama: We'll Make Sure BP Pays "Every Single Dime"
Vice President Biden Will Head To Africa
Barenaked Ladies Guest Star In "Bachelorette" Episode
Gunmen kill politician of winning Iraqi bloc |
BBC America To Bring British Kitchen Culture To USA In "Come Dine With Me"
Greek austerity protest sees low turnout in rain |
Cyprus tells Pope split threatens heritage |
South Africa's Zuma faces another family scandal |
US demands gloabl action against North Korea
Protests in Taiwan against China trade pact
Hong Kong scientists identify cancer stem cells
Arms to Taiwan no reason to suspend US-China ties: Gates
Petronas to focus on Malaysian oil fields: report
Trio abducted by Islamists found dead in Philippines
Aussie dogs go barking mad for a little mutt music
Geithner urges China to resume exchange rate reform
G20 says world economy recovering faster than expected
G-20 finance chiefs agree on need to curb deficits
G-20 agrees to advance reforms, rebalance growth
G-20 finance chiefs mull deficits, banking rules
Moscow "Launches" Crew To Mars In Simulated Mission
Cuba singer Rodriguez wistful and polemical in U.S. show |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01