HUNGARY ATTACKS ROUBINI OVER CURRENCY 'ADVICE'

[ Thu. Jan. 17. 2013 ]

A spat has broken out between Hungary's Economy Ministry and Roubini Global Economics about who is to blame for the downward spiral of the national currency, the forint, after Roubini's firm Roubini Global Economics (RGE) recommended shorting the currency. ... Hungary's Ministry for National Economy said in a statement that the forint began to depreciate after economist Nouriel Roubini - dubbed Dr Doom for his pessimistic forecasts - said in a newsletter that failure to secure a deal with the International Monetary Fund was bad news for the currency. ... But Roubini economists cited comments made by Economy Minister Gyorgy Matolcsy in a newspaper column [ED. NOTE: A review of This Will Make You Smarter, the 2011 Edge Question book], in which he seemed to favor the country adopting more unorthodox economic policies as the reason for the currency's weakness.