Former Minister of Finance likens Hungarian state to “an organized crime racket”

“You can understand why people in this country speak about Hungary being a mafia state, because the state behaves pretty much like an organized crime racket.” – Lajos Bokros, Movement for a Modern Hungary (MOMA) chairman, former Minister of Finance.

The Hungarian forint has been depreciating against the both the US dollar and the euro for a long time, which is very strange because I can understand the depreciation of the Hungarian currency against the US dollar because that reflects nothing else but the strength of the US dollar, but to be depreciated against the euro, which is in itself depreciating against the US dollar, is a consequence of a deliberate government policy in Hungary to depreciate the Hungarian currency in order to maintain the relative strength of the export competitiveness of Hungary.

I don’t think this is a good policy because that means a constant loss of value for Hungarian labor, Hungarian consumers, Hungarian savers and Hungarian investors.
[link to budapestbeacon.com]