Hungarian riots

BBC

The admission by Hungary's Prime Minister that he lied to voters may have sparked the country's worst riots in decades, but the violent street protests have deeper-reaching economic and political roots.

Despite greater freedoms, many Hungarians feel they have been marginalised and left behind in a fast-changing nation as a small and powerful elite get richer at their expense.

At the same time, Hungary's economy has deteriorated to the point where the government has had to draft a package of emergency austerity measures in the hope of putting its finances back in order.

Whilst policymakers and analysts argue that there is little choice other than to accept tough decisions and tax hikes, for much of the population the memory of the last set of financial measures - the Bokros package - is still very raw and painful.

Especially when they were told that the sacrifices made little more than a decade ago would ensure Hungary's stable economic future.

"There is an element of general dissatisfaction with the economy, and an element of political dissatisfaction," explained Zsolt Papp, a senior economist at ABN Amro.

"People think they are not getting the benefit of economic changes and the country is still being run by the same old guys."