The Hungarian government has expelled the International Monetary Fund (IMF) and European Central Bank (ECB). Ejecting banking cartels is not exceptional but often leads to war. Some nations are too big for war to be an option. Brazil, Russia, India, China and South Africa (BRICS) declared financial sovereignty.
　
Iceland threw out the bankers and filed charges. The heads of Iceland’s banking system were declared fugitives and afterwards fled to Europe. The Hungarian leader charges that previous Socialist administrations sold the nation into unending debt slavery under the terms of the IMF.
　
Hungary’s popular Prime Minister Viktor Orban says Hungary neither wants nor needs further ‘assistance‘ from the cartels. He says, “no longer will Hungarians be forced to pay usurious interest to private, unaccountable central bankers. Instead, the Hungarian government has assumed sovereignty over its own currency. It now issues money debt free, as it is needed.”
　
The results have been nothing short of extraordinary. The Hungarian economy, until recently staggering under bankers interest rates, has recovered rapidly.
　
The Hungarian Economic Ministry recently announced that thanks to a ‘disciplined budget policy’ it has repaid the remaining €2.2B owed to the IMF, well before the due date. Unemployment is rapidly decreasing and now stands a tad over 10 per cent.
　
If Spain followed Hungary and Iceland’s example by could Spain take a shortcut to a buoyant recovery and full employment?
Filed under: http://www.theleader.info/article/40509/
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