Can the world avoid a fresh crisis? by Ian Bremmer

For better and for worse, globalization -- all the various processes by which ideas, information, people, money, goods, and services now cross international borders at unprecedented speed -- has been the primary geopolitical and economic trend of the past several decades. But the financial crisis and its aftermath have proven that no one has forgotten how walls are built, and this moment is in many ways more dangerous for the global economy's future than anything we experienced during the Cold War, threats of nuclear war notwithstanding.

The blinkers in Budapest - The Economist

According to the announcement on September 8th by György Matolcsy, the national economy minister, that the country will aim for a 2011 budget deficit of 3 per cent of GDP is the first sign the government has given that it will not fight too many battles simultaneously.

 

But it would only take a new shock, a sharp increase in risk-aversion, or a further forint slide, to force the country to return to the IMF, but this time with no cards left to play.

 

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