The Puzzle of Orban and the War in Ukraine

BUDAPEST: Hungary is a maze of contradictions. When Russia invaded Ukraine in February the populist Orban government agreed to the first round of EU/US sanctions punishing Moscow for aggression. But Prime Minister Viktor Orban opposes cutting oil and gas imports from Russia saying that would cause severe domestic hardship. Arguing that ending the war must be the priority, Orban refuses to allow armaments destined for … Continue reading The Puzzle of Orban and the War in Ukraine

Latvia: Success at a Price

RIGA: On this 10thanniversary of the U.S. triggered global crisis, spare a thought for lightly populated Latvia, the Baltic nation in Europe‚Äôs far northeast. Over-confident from a get rich quick, multi-year property boom, the global crisis struck Latvia with unanticipated force. Citizens and government were ill prepared for the disaster. Economic activity slowed at once. Swedish banks that dominated local credit markets closed the lending … Continue reading Latvia: Success at a Price