Hungarian Prime Minister Ferenc
Gyurcsany said on Monday that his Socialist-led government was
assessing the consequences of its referendum defeat, which, he said,
has caused considerable damage to the country as a whole.
Just five days after the vote, Standard and Poor’s gave Hungary
a credit downgrade, citing a lack of support for the government’s
reforms and the government’s weakening mandate, Gyurcsany said.
The downgrade will make credit financing more expensive for
Hungary and this will leave fewer funds for tax cuts. The opposition
should ask itself whether this was really a victory and not too high
a price to pay, he added.
"[The opposition] has succeeded in convincing people to act on
their short-term personal interests; all this for the price of
giving Hungary the reputation of a loser abroad," said Gyurcsany.
Gyurcsany also quoted the Financial Times as saying that the
referendum — voters reversed medical and tuition fees on March 9 —
has alarmed rather than attracted investors.