Letters - All because of the euro

Neil Clark (Observations, 15-30 December) laments that Hungary will have to reduce its budget deficit to join the euro. But it was able to borrow the money to fund its deficit - largely caused by the Socialist-led government hiking wages for doctors, nurses and teachers by 50 per cent after it won the 2002 elections - only because the markets believed Hungary would join the euro.

Charlie Robertson
London N5

This article first appeared in the 12 January 2004 issue of the New Statesman, American terrorist