William Penn Life, 2005 (40. évfolyam, 1-12. szám)
2005-03-01 / 3. szám
Magyar Matters Hungary off track for adoption of euro in 2010, says central bank governor from The Budapest Sun BUDAPEST - Hungary needs to make serious changes to its economic policy, or it will fail to adopt the European common currency in 2010, said Hungary's central bank governor Zsigmond Járai at a meeting of the American Chamber of Commerce in January. "We are moving away from the euro introduction instead of moving in that [right] direction. But 2010 is far away, we still have four and a half years, and many things should happen in that time, so we don't need to give up 2010, we need to change economic policy," Járai said. The same changes were also necessary to enable the bank to further reduce the base rate, which, after a series of cuts, is now at 9 percent and close to the 8.5 percent level considered critical by a recent poll of analysts, he added. "Our room [for further cuts] is now very much limited," he said. While the private side of the economy was performing well, the bloated public sector meant that "fiscal policy is unsustainable", he said. The result is investors will only " Vienna-Budapest-Paris: The Operetta Extravaganza!" makes its North American debut this May with performances in eight cities. A smash hit in London, Amsterdam and Tokyo, this evening of music, dance, comedy, and spectacle celebrates three of the most enchanting operettas ever written. The choicest moments from Johann Strauss' Die Fledermaus, Franz Lehar's The Merry Widow, and Emmerich Kalman's The Czardas Princess are performed by an all-star European cast of singers, dancers, and musicians. Sung in English, German and invest in forint-denominated bonds carrying a premium due to the perceived high risk of depreciation. In contrast, investor willingness to buy euro- or dollar-denominated state bonds proved there were no fears concerning country risk, Járai said. He justified the central bank's high interest rate policy, saying that along with the subsequent strong forint, the policy had curbed inflationary pressures, particularly after last year's VAT changes added two percentage points onto the original predictions. "We believe we have a good chance to reach the 4 percent inflation target this year and 3.5 percent in 2006," he said. Jarai said recent moves by the government allowing the prime minister to add four appointees to the monetary council was a "serious" threat to the independence of the national bank, although it was unlikely to result in any significant change in monetary policy. Following the council's decision to cut the base rate to 9 percent on Jan. 24, most analysts are predicting only a 25-point cut, if any, at the council's meeting in February. Hungarian, the performance is a waltzing, entrancing trip through the musical capitals of Europe. The show is being produced by Miklós Gábor Kerényi, director of the Budapest Operetta Theater. The North American tour opens May 12 in Hagerstown, Md. and includes performances in New York (May 13), New Brunswick, N.J. (May 15), Pittsburgh (May 16), Toronto (May 17), Kitchener, Ont. (May 18), Wisconsin Dells, Wise. (May 21) and Chicago (May 22). For more information and to order tickets, call 1-800-545-7807 or log onto wwzv.salutetoinenna.com. Meghívó McKeesport-i Magyar Ház Tisztelettel Meghívja Pittsburgh és Környéke ossz-Magyarságát 2005 Március I3án Vasárnap Délután 3 Órakor Rendező 1848-as, Magyar Szabságharc Emlékező Ünnepéjére Műsor Után Finom Sütemények és Kávé Meghívó Szeretettel Hívjuk és Várjuk Önt, Családját és Ismerőseit A Hazelwood-i Magyar Házban 120 Flowers Ave., Pittsburgh Rendezett Tánc Mulatságra és Vacsorára 2005 Április 9-én Szombaton este 6 Órai Kezdettel Házilag Készült Óz Paprikás - Székely Gulyás Vacsora: $15.00 Élő/ Zene: Dorothy & Co. Éredeklödni: 412-521-9802 Calling all Magyars If you have news that you think would be of interest to the American Hungarian community, please send it to: John E. Lovász, Publications Editor, William Penn Association, 709 Brighton Road, Pittsburgh, PA 15233. You can fax your news to us at 412-231 -8535. Or, you may send it by email to: jlovasz@williampennassociaton.org. ‘Extravaganza’ offers musical tour of Vienna, Paris and Budapest William Penn Life, March 2005 7
