Europe on the brink of currency crisis meltdown
The crisis in Hungary recalls the heady days of the UK’s expulsion from the
ERM.
By Ambrose Evans-Pritchard
Last Updated: 10:52AM GMT 26 Oct 2008
The financial crisis spreading like wildfire across the former Soviet bloc
threatens to set off a second and more dangerous banking crisis in Western
Europe, tipping the whole Continent into a fully-fledged economic slump.
Currency pegs are being tested to destruction on the fringes of Europe’s
monetary u
