My day was pretty hectic and I don't have time to write anything substantial today. However, I would like to say a few words about two articles that appeared in The Economist and The Financial Times. The former, entitled "Hungry for Power," is especially hard hitting. It made quite an impression in Hungary where it is making the rounds in the Hungarian media. Some newspapers simply took over the MTI version but others went to the original and did their own translation. The MTI version softened the message a bit by adding, for example, "according to critics," a turn of phrase that didn't appear in the original. The opinion was that of The Economist and not some unnamed critics. So, please read it.
The Financial Times article was written by Kester Eddy, and it is rather amusing. He makes fun of György Matolcsy, whose latest is that he will turn Budapest into an international financial center, the "Luxembourg of Eastern Europe." He said that a day after the Moody's downgrade.
And finally, a funny story from me. Just a little over a year ago I wrote about the new Fidesz mayor of Pécs and the French company, Suez Environment, that provided drinking water for the city. The post was entitled "Foreign investors in Hungary beware: Pécs and Suez Environment." It was a complicated story, but the upshot was that the city of Pécs forcibly took over the management of the company in which it had a minority stake. The new Fidesz mayor claimed, among other things, that in order to expand beyond the city limits the company charged too much for the water.
What did I hear yesterday? The new city-owned company is raising the rates by eight percent starting January 1, 2011. Isn't that interesting.