It is fascinating to see how the globalization of the financial markets is evolving. Now when I am staying in Hungary for some time, I wanted to learn more about the Hungarian stock exchange. The exchange closed down after Hungary "entered" the Eastern Block region and the country became a satellite state of the Soviet Union. It opened its doors again in 1990, after the fall of the Iron Curtain. Back in the day, it was the third biggest exchange in Europe. Dragos Novac is following what is going on in Romania. He reported on May 25 [Editor's note: My birthday!] that the Vienna Stock Exchange bought a piece of the exchange in Budapest, and the Nordic OMX exchange acquired a big stake in the Lithuanian stock exchange.