According to historian Adam Tooze, we are currently potentially facing a “polycrisis”: a number of smaller to medium-sized crises in the world that have the potential to combine and reinforce each other.
Agreement helps ease pressure on Hungary’s widening current account deficit and steady the sinking forint.
Hungary’s radical right-wing leader is struggling to cope with the country’s unfolding cost of living crisis, a task made much harder because of his pre-election spending spree and his isolation inside the European Union.
As the current rotating president of the European Union, Prague has convened a meeting of the long moribund EU Israel Association to try to boost EU links with the Jewish state.
The EU’s Fitfor55 efforts to reduce CO2 emissions by 55% by 2030 are woefully inadequate and unable to contain global warming to the 1.5°C target, with reductions of up to 77% needed instead to stand any chance of averting a climate catastrophe.
4iG allowed to acquire a 20% stake in satellite company as a "first step" and three years later take majority control if Israeli communications ministry approves.
The Hungarian currency has become the third worst-performing EM currency in 2022 after the Argentine peso and the Turkish lira.
Gazprom unit that operates pipeline said to be withdrawing all technical support.
Government efforts to shield populations from the energy crisis and rampant inflation have shifted the economic impact to next year, says the EBRD as it downgrades GDP growth forecasts for 2023.
MNB raises base rate by 125bp to 13%, above the 75-100bp forecast, but calls time on further rate rises.
The European Bank for Reconstruction and Development (EBRD) projects growth in its region will slow as a result of gas supply problems that are feeding an energy crisis. The bank says growth will slow to 2.3% in 2022 in its region and 3% in 2023.
The current increase in wholesale energy prices in Europe has prompted governments to try to shield consumers from the direct impact of an energy crisis that is sweeping the Continent and the rising prices that are costing hundreds of billions.
The third decline in a row for the eurozone PMI indicates that business activity has been contracting throughout the quarter. This confirms our view that a recession could have already started.
But the Hungarian strongman may struggle both to exploit the cost of living crisis and to unite Europe's resurgent radical right, particularly if the Russian-Ukraine war grinds on.
Viktor Orban’s latest move is another way of shifting the blame for economic woes following a procyclical and expansive fiscal policy in recent years.
Hungary could become the first EU country to lose significant EU funds under the bloc's new Conditionality Mechanism.
The report puts pressure on the European Commission not to compromise with Viktor Orban's radical rightwing regime by releasing currently frozen RRF and Cohesion Funds.
Germany’s decision to take its nuclear power plants offline, coupled with production problems with France’s NPPs, saw the share of nuclear power in the OECD countries year to date fall to its lowest level ever, but solar boomed.
Forint falls after reports that Brussels is set to cut Hungary's budget funding because of continuing failure to tackle corruption and make procurement more transparent.
Industrial production growth confirmed at 4%, and 6.6% according to workday-adjusted figures.