Its good to see Hungary is finally taking the steps it needs to so it can compete and win those jobs. We will see the tax changes soon to match this competitive zeal.

Also

Hungary's capital, Budapest, has been selected to house the European Institute of Innovation and Technology (EIT), the union's flagship project to boost innovation, research and higher education.

On Wednesday (18 June), ministers in charge of competitiveness met in Brussels to put an end to the wrangling over the institute's seat. Last month, they failed to agree due to a Polish veto on the matter.

ANALYST VIEW: Go short EUR/HUF as the NBH steps up inflation fighting efforts - Goldman Sachs
Thursday, 19, June 2008 01:51:00 PM

As the National Bank of Hungary (NBH) appears increasingly determined to fight inflation pressure, Goldman Sachs analysts assume it wants to see the HUF trade gradually stronger - investment bank said in a note to clients today. They see potential signs of stabilization in global rates and that could be a HUF positive factor as well. Goldman Sachs expects further HUF appreciation and they now recommend short EUR/HUF exposure with a wide stop at 252.5.

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Just as I had hoped!

HUF will gain in strength vs all regional currencies and Euro of course. This is no flash in the pan - here today gone tommorow, this is a long term trend right up until EMU 2 entry.