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Frankfurter Allgemeine Zeitung - Germany | Monday, March 23, 2009

Looking for someone to clean up the mess

"Hungary needs someone to steer it out of the crisis," the German daily Frankfurter Allgemeine Zeitung writes. "Officially the culprits have been pinpointed: the eternally grumbling people along with the power-hungry politicians, and everyone's desire to live beyond their means. The beneficiaries of this policy are those who encouraged and exploited this unwarranted and excessive consumption for their own purposes. Foreign banks gave temptingly cheap loans in foreign currency, which following the devaluation of the forint threaten to smother Hungarians; and above all Western European chain stores profited from this disproportionate consumption. The new head of government will no doubt be one of those economic experts who justify all this by saying it's all down to the laws of the market. But even sinking the state budget and salaries won't remedy the political deficits of Hungary's post-communist model."

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