Hungary

Gideon Rachman

Viktor Orban, the prime minister of Hungary, has just cemented his reputation as the problem child of the European Union with a speech in which he argued that “liberal democratic societies cannot remain globally competitive”. All EU countries are meant to subscribe to a set of values that could broadly be described as liberal and democratic. But Mr Orban suggested that the Hungarian government is now looking elsewhere for inspiration – citing China, Russia, Turkey and Singapore as potential role models. Read more

  • Argentina is playing a game of chicken with NML, saying: we are prepared to go as far as the possibility of default not to pay you. Given that, how are we going to settle this case?
  • Oil majors including ExxonMobil and BP started evacuating staff from Iraq as Sunni militants battled for control of the north’s main oil facility.
  • China has been moving sand onto reefs and shoals to add several new islands to the Spratly archipelago, in what foreign officials say is a new effort to expand the Chinese footprint in the South China Sea.
  • Anti-Brussels sentiment in Hungary is manifesting itself in a fight over home-brewed palinka.

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Which way forward? Photo: Getty

Welcome to our first eurozone live blog of 2012. By John Aglionby, Tom Burgis and Esther Bintliff on the news desk in London with contributions from correspondents around the world. All times are GMT.

It may be a new year but it’s the same old eurozone crisis. French President Nicolas Sarkozy and German Chancellor Angela Merkel held a bilateral summit in Berlin this morningRead more