>...but I never said mako wouldn t continue, the question is by whom and when....
The simplest solution is usually the right solution. The way I see it, the ‘whom’ is already in place, so whatever the perceived differences are, they should be worked out by the JV partners. On the other hand, if the very high cost of developing the Makó trough is the cause for Exxon opting out of Stage-2, then the Hungarian government should review the policy on its mining royalties and do the sensible thing and cut its 12% rate on unconventional resources to below 5%.
Anyway, since we don’t really know what’s going on behind the closed corporate doors, we will wait and looking out for the light at the end of the tunnel
According to the Bank of America Merrill Lynch that is just what’s happening in Hungary :)
http://www.portfolio.hu/en/cikkek.tdp?k=2&i=18785
Hungary to come out of recession as the world's fiscal leader - BofA-Merrill Lynch
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October 27, 2009, 9:30 am
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Hungary is poised to emerge from the global recession as a leader in fiscal health as years of economic pain brought on by government austerity measures pay off, according to Bank of America Merrill Lynch, whose analyst also believes Hungary will definitely enter the anteroom for euro zone accession before Poland.
