A lesson from Hungary

The example of Hungary should serve as a precious lesson to Greece?s politicians, who ought to carefully study all of the mistakes that were made and how the Central European country reached its current predicament.

Here is a government that decided to follow a path that would bring it into conflict with the demands of its European partners, the International Monetary Fund and the markets. As a result, it is now paying a dear price for its decision and is once more at risk of going bankrupt, with all the problems that this entails.

Arrogant threats born of excessive pride and the cultivation of the illusion among the people that there is another way to go than the one dictated by the country?s partners and peers can only go so far and can only hold water for so long.

The threats soon dry up and the theories begin to lose all credibility once the cash dries up and the indignation of the people, who believed in empty promises and instead of a solution have seen their pensions and salaries taking flight, starts to mount.

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