2020 is the new 1956 for Hungary, central bank chief says
Humankind will turn towards security now, Matolcsy wrote on novekedes.hu. The parallel between 1956 and 2020 is that the old world came to a virtual halt in both years. “In 1956, the Hungarian revolution held up Soviet dictatorships in Europe for a moment, while the Suez crisis stopped the expansion of European colonial powers in the Middle East. Both turning points flashed the glimmer of opportunity for individual and national freedom for the oppressed,” Matolcsy said.
2020 is a similar turning point, when the coronavirus virtually stopped the world,
Matolcsy wrote, adding that we have all agreed to temporarily limit our freedom for our security. As in 1956, the new world will not be formed immediately, the Governor of the National Bank of Hungary (MNB) said.
Matolcsy summed up his predictions in 10 the points below:
- Security in general will be valued more, and we will realise that we can be actually free when we are in safety.
- The pattern of libertine licentiousness, over-driven individualism and “I can do anything” will be devalued.
- Communities that can offer security will become stronger, the state will be valued more as a source of protection, community aid and cooperation will flourish and communities will be more self-regulating.
- Work in general will be valued more highly, with increased emphasis on secure employment, financial reserves and secure investments. Financial security has again be proven to be essential for complete security, Matolcsy said.
- The British approach of “My home is my castle” will regain its original meaning, and owning a spacious, digitised home with a garden will become the primary objective of families.
- The world of labour and the job market will become more flexible. Individual freedom will be stronger in this respect as it aligns with the new approach to security.
- The healthcare system will undergo an overhaul even in places where it worked before, and especially in places where it did not. A new approach to health will spread, including a healthy lifestyle and the prevention and early treatment of serious diseases.
- There will be extra security rules and support introduced for the elderly, and part of the healthcare and community systems will be exclusively for this age group.
- There will be a duality in education as physical classes will be smaller, while digital education will become general.
- There will be programmes introduced in all countries to increase the security of minorities, building on the specific circumstances of each group.
Cover photo: MTI/Noémi Bruzák
