euro|topics - Miklós Blahó

20/11/2008

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Blahó, Miklós

5 articles of this author have been cited in the European Press Review so far.

Népszabadság - Hungary | 14/10/2008

The EU as a protective shield

In the opinion of the liberal left-wing daily Népszabadság the EU has the choice between moving closer together or splitting up: "It is significant that it was the eurosceptic British Prime Minister Gordon Brown, of all people, who had to show the 15 countries of the Eurozone what course to take: pumping public money into banks; revitalising lending among banks in order to stimulate the economy and providing state guarantees to cover bank loans with the aim of winning back the diminished confidence of borrowers. ... What would have happened if the European economies didn't have the double protective shield of EU institutions and the euro doesn't bear thinking about. ... The past few weeks have given us the following insight: without genuine political union Europe is not in a position to find answers to crises other than those it recently managed to produce only after immense efforts."

Népszabadság - Hungary | 29/09/2008

The EU wants to grow up

The left-wing liberal newspaper Népszabadság comments on José Manuel Barroso's open letter to the next US president as well as a lecture given by EU Commissioner for External Relations and European Neighbourhood Policy Benita Ferrero-Waldner: "The EU's standpoint as articulated here can ... be seen as a trial balloon. If the ... Lisbon treaty came into effect there would be an EU foreign minister to represent the stance of the EU as a whole. ... Barroso ... made reference to the new wave of globalisation. ... Can Europe or the US afford to block the path to finding ... a solution to the situation? Barrosos's answer is 'no'. ... One must [also] reflect on how to integrate the [new world powers] - perhaps according to the European model - and how to restructure the international organisations. ... Whether the next US president will heed this adult European voice or continue to regard the EU 27 as a bunch of hysterical kids is another question."

Népszabadság - Hungary | 24/09/2008

The end of capitalism?

The Hungarian daily Népszabadság speculates on whether this is the end of capitalism: "Chaos reigns both in the financial world and in people's heads. Even renowned economists are saying that the conservative Bush Administration [with its announcement of plans to give ailing US banks a cash injection of 700 billion dollars] has opted for a socialist solution in its bid to save American capitalism based on free competition. The history of speculation shows us that after a painful period of transition things tend to go back to how they were. But the original state is never completely re-established: the regulating function of the state changes and a slightly different period follows in which entirely new phenomena cause new problems."

Népszabadság - Hungary | 08/05/2008

The Slovak miracle

Slovakia's planned conversion to the euro next year prompts Miklós Blahó to talk of a "Slovak miracle": "The way our northern neighbour got back on its feet in the space of just six years is commendable. ... In the aftermath of the political transition, Slovakia soon became marginalised internationally as a result of Vladimir Meciar's policies. Its accession to the European Union ... was even seriously called into question. This made an impact. Slovakia got rid of Meciar and elected a conservative government that immediately took measures to boost the economy. It raised the retirement age, set up private pension schemes and introduced doctors' fees, hospital fees and tuition fees. ... However, it also cut social welfare spending, with the consequence that the country's poorest - primarily the Roma living in ghettoes - continue to live in extreme poverty."

Népszabadság - Hungary | 17/08/2007

Could the stock exchange crisis last?

Could there be a repeat of the great crash of 1929 and the worldwide economic crisis it triggered? asks Miklós Blahó. "The uneasiness that has been evident for weeks bubbled over into a full-blown nervous breakdown yesterday, with the world's stock markets suffering average losses of between three and four percent. The Budapest stock market was also affected. This had the effect of considerably weakening the country's currency. We can only hope that yesterday's Black Thursday lives up to the events of 1929 only in name... The global economy is growing rapidly, although this growth is mainly due to the Chinese and Indian markets rather than the US market. Nonetheless, it seems likely that the markets will recover - albeit slowly - from the crash. We'll just have to wait until all the risky loans have been paid off and the insolvency proceedings of all the investors hit hard by the crash have come to an end."

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