Stat of the day: Hungary joins list of sovereigns with highest default probability

There is a lot more exposure to Italy, Ireland and Spain but we know that Thailand was the ultimate source of the Asian Crisis. These things have a way of metastasising – and we have already seen the strains in Spain and Greece. You could really argue that it was Hungary which was infected by a virulent strain of the Spanish Flu – and that contagion has already begun. I think people are concerned for good reason.

There is a lot more exposure to Italy, Ireland and Spain but we know that Thailand was the ultimate source of the Asian Crisis. These things have a way of metastasising – and we have already seen the strains in Spain and Greece. You could really argue that it was Hungary which was infected by a virulent strain of the Spanish Flu – and that contagion has already begun. I think people are concerned for good reason.
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