LYCOS RETRIEVER 
Hungary: Soviet Union
built 627 days ago
Located in the heart of Europe and a member of the European Union, Hungary has been a strategic delivery location for EDS in the EMEA region. It ensures compliance with EU data protection legislation and offers most of the foreign language capability required in Europe.
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Hungary rapidly integrated into the European economy, with the value of exports and imports both growing to well over 70% of GDP. This close relationship with the economies of the European Union (EU) helped pave the way for Hungary's accession to the EU in 2004. An open economy with sophisticated financial markets, Hungary has progressed well beyond the early stages of privatization. In recent years, Hungary has been a leader in per capita FDI in the region, and the private sector is the dominant engine of growth in an economy saddled down with heavy government debt and a substantial fiscal deficit. Many analysts and international organizations note the marked success of export-oriented manufacturing companies, but see room for substantial structural reform to reduce government spending and increase efficiencies in areas such as taxation, health care, education, and social benefits.
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On October 31st, 1956, Nagy broadcast that Hungary would withdraw itself from the Warsaw Pact. This was pushing the Russians too far and Kadar left the government in disgust and established a rival government in eastern Hungary which was supported by Soviet tanks. On November 4th, Soviet tanks went into Budapest to restore order and they acted with immense brutality even killing wounded people. Tanks dragged round bodies through the streets of Budapest as a warning to others who were still protesting.
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The Szabadság Szobor or Liberty Statue (sometimes Freedom Statue) in Budapest, Hungary, was first erected in 1947 in remembrance of the Soviet liberation of Hungary from Nazi forces during World War II. Its location upon Gellért Hill makes it a prominent feature of Budapest's cityscape.
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In 1973, a bilateral agreement was reached under which Hungary settled the nationalization claims of American citizens. In January 1978, the United States returned to the people of Hungary the historic Crown of Saint Stephen, which had been safeguarded by the United States since the end of World War II. Symbolically and actually, this event marked the beginning of excellent relations between the two countries. A 1978 bilateral trade agreement included extension of most-favored-nation status to Hungary. Cultural and scientific exchanges were expanded. As Hungary began to pull away from the Soviet orbit, the United States offered assistance and expertise to help establish a constitution, a democratic political system, and a plan for a free market economy.
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In 1997 in a national referendum 85% voted in favour of Hungary joining the NATO. A year later the European Union began negotiations with Hungary on full membership. A centre-right party, Fidesz, won the elections. Its head, Viktor Orbán became Prime Minister. In 1999 Hungary joined NATO.
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