Telegraph
"In Hungary the Prime Minister's official spokesman said the economy was in a "grave situation" and said a default on its debt was possible. The comments ignited fears that a debt crisis could be brewing in Eastern Europe.
"In Hungary, the previous [Socialist] government falsified data," said the spokesman. "In Greece, they also falsified data. In Greece the moment of truth has arrived. Hungary is still before that."
The Hungarian currency, the forint, fell about 2pc against the euro following the comments. "More news on specifics is expected this weekend, and the news is not likely to be pretty, as the previous administration was obviously up to no good, and as the PM will likely try to firmly pin as much of the situation on his predecessors as possible," said John J Hardy, currency consultant at Saxo Bank. He said the situation was "reminiscent of Greece", but different, partly because Hungary can devalue its currency.
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