We are playing with water, not fire

English2019. okt 25.GOVERNOR MATOLCSY100WORDS

Martin Wolf regards uncertainty as one of the main culprits for the present synchronised slowdown of the world economy /FT, 16 October 2019/.

Probably the opposite is true.

There is a broad consensus on the upcoming economic and financial crisis. Predictions of timing might be different, not the certainty of future upheavals.

The main players of the global economy have been trying to craft an orderly closure to end the present/last luckily long boom times. They have been using cold water instead of hot fire.

Re “We are playing with fire in a wooden home”

Governor Matolcsy, MNB, the Central Bank of Hungary


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