It is 13 years since the IMF called for an international agreement on how to wind up defaulted sovereign debt. Still there is no mechanism, and regrettably the vulture funds pursuing Argentina still seem to hold sway in the US. It's time for change
Hungary may have a relatively immature banking market but there is more growth visible there than there is across the CEE or, at present, across the eurozone
Henry Worthington, Oxford Economics
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