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Hungary bucks austerity trend

In 1956 the Hungarians rose in revolt against the excesses of Soviet communism. During the 1980’s, the Hungarian society was already making the transition to what we now call the post-Soviet era and its communist politicians opened the country’s borders to East German refugees fleeing to the West . These days, Viktor Orban and his… » read more

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The end for a paper tiger

For over two decades now, we got used to being force-fed by the English-speaking media with regular upbeat stories about Ireland, EU’s own “tiger”. Thus for the first time in the young republic’s history, “the luck of the Irish” fatalism had given way to optimism and to the widely shared belief that Ireland had finally… » read more

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Change is good for NATO

President Obama has arrived in Lisbon on Friday, but no-one on this side of the Atlantic seems too heartbroken that he will be forced to leave in two days’ time. On the other side of the pond, however, the Heritage boys and even some NYT columnists think he should have arranged to stay longer, for… » read more

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The OSCE December summit

This fall’s Deauville summit between Angela Merkel, Nicolas Sarkozy and Dimitri Medvedev has highlighted the need to include Russia in a pan-European security architecture, distinct from the decaying and confrontational-type North Atlantic Treaty Organisation (NATO). Fortunately since 1975 European nations, regardless of EU membership, have had one of the most advanced regional co-operative security structures… » read more

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Towards Bretton Woods III

The US Federal Reserve’s second round of quantitative easing has prompted near-universal condemnation by the financial leaders of Germany, China, Brazil, the ASEAN and the EU. From The People’s Daily to Der Spiegel, newspapers are full of criticism and dire predictions of an impending international currency war, which is bound to result from the flooding… » read more

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Last week’s top-level political meetings which took place in Brussels and Hanoi ended up with similar calls on the US to avoid stimulating the American economy by printing more dollars. Trying to stimulate growth by flooding the American banking system with liquidity is only of marginal importance to the US economy’s woes. Yet this is… » read more

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