Britannia Radio

Hungary President Says Screw The IMF - And They Won't Be The Last Country To Make Bondholders Pay

Right now, Hungary is could be the epicenter of the latest next financial storm.

The country is teetering on the edge of bankruptcy. Its authoritarian populist Prime Minister Viktor Orban is refusing to play ball with the International Monetary Fund. Bond yields are soaring and credit is drying up.

The country may, in the next few weeks, become the first major nation of this ongoing sovereign crisis to default — and that could trigger a wave of massive, perhaps even crippling losses across the European and indeed global banking system.

http://dailybail.com/home/hungary-wont-be-the-last-to-make-bondholders-pay.html