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The Lehman Tsunami (September–October 2008)

In: Hungary and Other Emerging EU Countries in the Financial Storm

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  • Júlia Király

    (International Business School)

Abstract

The Gömböc—a Hungarian innovation, almost as famous as the Rubik’s Cube—has only one stable and one unstable point of equilibrium. In some sense, the Gömböc was the metaphor of the Hungarian economy, which was in its unstable equilibrium in 2008, and the hope was that the financial crisis would not swing it out. However, on September 15, the Lehman had collapsed, and the Gömböc-economy swung out of its unstable equilibrium to roll over a terrible crisis period in the search for the stable equilibrium. Hungary was seriously hit by the Lehman-collapse and faced a serious liquidity crisis.

Suggested Citation

  • Júlia Király, 2020. "The Lehman Tsunami (September–October 2008)," Financial and Monetary Policy Studies, in: Hungary and Other Emerging EU Countries in the Financial Storm, chapter 0, pages 45-56, Springer.
    • Handle: RePEc:spr:fimchp:978-3-030-49544-2_5
    DOI: 10.1007/978-3-030-49544-2_5
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