European economies

[BlackVoid]

I have been reading this page with interest. I have a question to all the financial experts.

How would a US economic recession/depression affect Europe?

And more specifically what could it mean to my country Hungary?
Hungary has an economy with many features that resemble the USA:
- car industry is the key, but we are a major exporter in this field
- totally dependent on fossil fuel imports (from Russia)
- government deeply in debt
- high inflation
- high budget and trade deficits
- falling housing prices

We are the weakest link in Europe in many respects.

[jk]

Re: European economies

i don't think anyone knows the answer to your question, which applies to asia as well: how much will/can they decouple from the u.s. if the u.s. goes into recession? longer term it looks like both europe and asia will emerge as powers in a multifocal world, but europe has at least 2 big issues of its own to deal with: can it developed a unified economic policy? how will it deal with its dependence on russian energy? i'll be interested, along with you, in seeing if anyone has any answers.

[spunky]

Re: European economies

Welcome aboard Blackvoid. Enjoy this site, need more insight from your part of the world here.


I can tell you ; the asian economic exspansion hasnt spilled over to the visays portion of the philippines. All 3 of my brother in laws still looking for anything like decent steady work. One has applied to go overseas, richest person in the family is still a fisherman and taxi driver.