With Hungary resuming its EU and IMF talks over a bailout, it seems that the country is out of options. The talks broke down in December over Hungary’s new controversial constitution which curbed the independence of the Central Bank. Now the country is ready to make concessions for the IMF and the EU cash, but at what cost? Joining us to discuss Hungary’s debt crisis is Zoltan Csefalvay, the Hungarian minister for economy. We also take a look at Egypt, the country that turned down an IMF deal in June 2011 fearing that Egypt sovereignty could be undermined, but now Egypt finds its post-revolution economy badly faltering. Just before the financial crisis hit in 2007, luxury car sales were at record levels. But this year, as we continue to struggle through the latest phase of that crisis, the record could be broken again. Rolls Royce, the luxury car brand is 107-years old but still breaking sales records. We speak to Torsten Mueller-Otvos, the CEO of Rolls Royce Motor Cars. There is a thriving business off the coast of Africa these days, an entirely illegal one, that seems to have a positive effect on economies onshore. The semi-autonomous Puntland region in Somalia has seen the profits of piracy have a big impact. What are the alternatives to military action to try to counter Somali piracy?
Who needs the IMF?
