The euro trigger
A look at Hungary’s trip to the IMF, Armenia’s export woes, and how the eurozone crisis prompted them both.
From periphery to the core, the eurozone fallout is spreading.
Hungary looks for more help from the International Monetary Fund (IMF) and the European Union (EU), as its debt sinks towards junk status.
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The central European country is not a member of the eurozone, but its currency has fallen to a record low against the euro, resulting in soaring debt repayment costs for both the government and the public.
We also take a look at Armenia. It is a big exporter to Europe, but also to Russia, so it is getting hit by a double downturn without being part of the crisis area.
To dissect some different angles of the eurozone crisis, which have not necessarily been explored, we are joined by Alexander Currie, an expert on the legal implications of the current bailouts and the idea of a country leaving the eurozone; and Stephen King, HSBC’s chief economist.
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Published On 26 Nov 2011