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* OCTOBER 14, 2008
Hungary Shrugs at Foreign Aid Offers While Iceland Persists in Hunt for Cash
By MARGIT FEHER, CHRISTOPHER EMSDEN and JOEL SHERWOOD
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more in Economy »
The International Monetary Fund and the European Union offered to help
Hungary out of its economic tailspin, but Prime Minister Ferenc
Gyurcsany said he would accept only as a last resort.
The offers of assistance to Hungary breathed new life into its
financial markets. The forint rebounded 7.6% against the euro, and
Hungary's main stock index rose 5.6% Monday. The cost of insuring
Hungarian government debt against a default dropped 0.4 percentage
point, reversing a quarter of last week's increase.
Icelandic officials also were meeting with IMF officials in Washington
about their own problems, ...
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