Debt pressure Put the Hungarian voters "to the right"
June 29, 2022 08:02 Source: "China Social Sciences" June 29, 2022 Issue 2437 Author: Sha Fangbing/Compilation

 bet365 live casino games A new study display,After the global financial crisis in 2008,Great family debt pressure push Hungarian voters to right -wing parties。

According to the official website of the Massachusetts Institute of Technology, June 16,,The May 2022 issue of the "Magazine of Financial" edited by the US Financial Association published an article "Financial Crisis by Emil Verner and others from Massachusetts Institute of Technology Emil Verner.、Debt and debt conflicts and populism "。This article examines how the Hungarian right -wing party "Yibik Party" uses debt problems in the financial crisis to attract Chinese voters。

2008-2009,A financial crisis characterized by bank failure in many countries in the world,But its impact has exceeded the financial field。When the economy is downward、When the unemployment bet365 live casino games rate rises,Many people who rely on borrowing to maintain living standards due to stagnation or decline in income,I found that I am in my debt。These economic problems have triggered political steering,Many debtors are attracted by populism politics。Hungary is one of the most obvious risen countries after the financial crisis in 2008。

Hungarian loan boom begins in 2000,and foreign currency as the main。until 2008,Swiss francs accounted for more than 60%of the family debt of Hungarian residents' family debt。September 2008 (the critical month of the financial crisis) and the two elections in April 2010,Hungarian currency Fulin depreciated 23%,Family debt growth is equivalent to 4%of the domestic GDP before the financial crisis。The same period,Hungarian political pattern has changed significantly。In the 2006 election,Votes obtained by the Right -wing parties only account for 2.6%of the total,This proportion will rise to 17%by 2010,Up to 20%to 2014。

To clarify the relationship between debt and politics,Bet365 lotto review Fle and others analyzed the debt and foreign debt data in various regions of Hungary,and voting data of voters。results show,2006,With the income of residents' debt in various regions of Hungary,Their votes tilt to the extreme right -wing party。Specifically,Debt and income increased by 10 percentage points per percentage point,The votes of the polar right party will increase by 1.4 percentage points。Overall,The surge in foreign currency debt during this period has led to 3 percentage points in the total number of votes in the country。This trend has continued to this day。Fle Representation,Debt increase is a major consequence of the financial crisis in 2008,Many people bear debt pressure,Every month's financial situation is affected by it。This is also the extremely right -wing party to attract a large number of voters,The reasons for the middle and even slightly higher than the middle -income group。

Researchers pointed out,An aspect of the above political dynamics is that many Hungarian resident Bet365 app download families carry foreign currency debt。"Yubik Party" has a highly nationalist political program,It is also the most aggressive call for bailout measures to reduce the Hungarian party that reduce foreign debt,And the country's mainstream party’s attitude on this issue is more vague。"Civilian party likes to use ordinary people and elites、Differences between foreigners,Or achieve your own political purpose by making external threats,The conflict between the debtor and the bank is an excellent opportunity for them。This helps to explain why the populist party is popular after the financial crisis。"Funa said。

Considering that many factors may cause local political steering,Researchers have also inspected the historically extremist attitude、Immigration mode、Changes in the local employment situation、Financial literacy、House price impact and other influencing factors。They found,Even if these factors are excluded,The association between the increase in debt and the political position is Bet365 lotto review still stable。other,Debt issues, although the debt problem is promoted to the rise of the "Yibik Party",But the party has not become the ruling party of Hungary。but but,Nationalist speech and position so that the "Yibik Party" has won enough support from voters,Therefore, its status in Hungarian politics is even more prominent。

Fun said,Severe economic difficulties and financial crises are often accompanied by political turmoil。The higher the degree of political polarization,The less support from the mainstream parties holding an intermediate position,The more support from the edge or non -mainstream party,Extreme right -wing populist parties are also more "getting the hearts of the people"。This phenomenon has appeared in various forms in modern history。So,When people examine the influence of the 2008 financial crisis,This point should also be included in consideration。

Researchers Reminder,Government officials and political commentators of various countries should recognize,The scope of the financial crisis is Bet365 lotto review extremely wide and may give birth to political steering,The debt crisis may evolve into a broader crisis。"How to design and regulate the financial system、What kind of financial products are launched to consumers,It is possible to give the economy、Society、The political system and people's lives have a wide and profound impact。"Funa said。

  (Sha Fang Bing/Compilation

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