Crisis after Crisis – Any Lessons Learnt?
Crisis after Crisis – Any Lessons Learnt?

Summary/Abstract: It is now more than half a decade since first a local American turbulence and then a global one shook the world of international finance. Half a decade should have been enough time for all those involved – politicians, economists, bankers, analysts, entrepreneurs and consumers – to digest the events of the global recession and draw conclusions. We in Hungary, on the periphery of the core European countries, are facing additional challenges, as our economic and financial problems – not to mention those related to other aspects of life – existed well before and were independent of the outbreak of the American mortgage crisis. They would not disappear even if global finances miraculously returned to normalcy overnight. Hence in this retrospective essay we will deal with the Hungarian issues separately.

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