Wednesday, February 8, 2012

A Travel Writing 2.0 Conversation with Elaine Masters | Travel ...

When Elaine Masters had the idea to combine her two passions?travel and yoga?into her writing, she had no idea that her passions would lead her to creating her niche in the health and wellness travel market. Elaine is the author of Drivetime Yoga, educating drivers and passengers on how to be more present, energized and healthy on long road trips, and she frequently blogs on travel wellness. Check out her website here!

How did you ?break into? freelance writing? What have been the keys to your success?

I?ve always been a writer, but hadn?t pursued it professionally until I wrote my first travel book, Drivetime Yoga, six years ago and started blogging. My ?breaks? have been related to that, sending out queries, meeting editors and publishers at events and slowly gaining credibility. I currently guest blog for several sites, am a contributor to American Media Distribution, host a podcast on the WRN and just keep working. The freelance writing market has changed dynamically in the past few years and I?m not really an expert. However with the closures of many newspapers, magazines and the rise of ?news? sites who do not pay their contributors, competition for paid submissions is more stringent than ever.

Where do you see your career as a travel writer being three years from now? How will your income mix change and what are you doing to adapt to the changing media landscape?

At least two new print/digital/audio books will be out within three years and I imagine that I?ll still be pursuing what leads I can. I?m currently working on several online books and reports related to my Travel Wellness niche and will be writing all the marketing for those as well. What I hope to develop is more collaboration with other writers, editors and publishers. Income related to writing is building as I?ve also been contributing content for several businesses. It?s usually not travel writing but I?m actively pursuing those opportunities for ?bread and butter? reasons and find myself enjoying the research and education that a variety of freelance writing offers.

Knowing what you do now, if you were starting from scratch today to become established as a travel writer, what steps would you take to ensure success?

Start sooner! It?s truly who you know, your reputation and your portfolio that will establish you. I came late to pursing a career in travel or other writing from a varied background that I wouldn?t trade.

As someone concerned with wellness while traveling, I think your blog, Trip Wellness, is fantastic. In your opinion, has blogging helped you establish yourself in your writing and speaking career?

Blogging has definitely been a boon to my business and establishing expert status. It?s also a great way to write topically and publish quickly. For example there was a small earthquake in Southern California about a year ago and I published tips for drivers caught in earthquakes within hours of it happening.

Elaine, you are truly a ?jill-of-all-trades!? You are not only a travel writer, but you?re also a yoga instructor, a speaker, an award-winning author, and a trip wellness specialist.! How has combining your two major passions?writing and yoga?helped you succeed in your career, and what advice do you have for other writers who are looking to define their niche?

I suffer from ?Bright Shiny Syndrome?!! However as in many other professions, finding your unique voice is the key to being successful. It can take time. Opportunity has led me to being a professional graphic designer, a public radio producer, an actress, voice over artist, international scuba diver, publisher and mother (not necessarily in that order!). At some point I realized that the through line in my life is travel, Yoga and writing and have been focusing on that primarily in the past few years.

Because a life in the arts is one of the most challenging and inconsistent ways to make a living (while holding huge rewards that aren?t usually reflected in your bank account), I wouldn?t recommend it. However, if that?s your passion it is what will feed your spirit. You may need to surrender to the roller coaster ride until you find a groove that will support you. Sometimes that means holding down a day job (or several) until you reach a professional, sustainable level. Keep your eye on the prize and find mentors and models to help you when the going gets rough.

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Elaine J. Masters grew up taking road trips. She is a travel writer, international scuba diver, Yoga teacher and the award-winning author of Drivetime Yoga. She?s lived in many major cities (and a few smaller ones) along the west coast from Juneau, Alaska to San Diego, CA. Her weekly podcast, The Gathering Road, airs on the WRN. Her stories and travel tips have been published in the LA Yoga Journal, American Media Distribution, Passporter.com, numerous blogs and at TripWellness.com and DrivetimeYoga.com. She often gives talks about how commuters, business and recreational travelers can stay happy, pain free and productive.

Interview conducted in February, 2012 by Kristin Mock.

Tags: blogging, DriveTime Yoga, ebooks, Elaine Masters, freelance writing, travel writing, Travel Writing 2.0, writer interviews

Source: http://travelwriting2.com/a-conversation-with-elaine-masters/

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Tuesday, February 7, 2012

Mike Ragogna: Meet The Beatles Again: A Conversation With Roberta Flack

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A Conversation with Roberta Flack

Mike Ragogna: Roberta, how are you?

Roberta Flack: Doing well, Mike. How are you?

MR: Very well, thanks. Your new album is Let It Be: Roberta Flack Sings The Beatles, so maybe we should start by talking about your early memories of The Beatles?

RF: Well, you know, we sort of popped out of the oven at the same time musically. I mean, they'd been around for a while by the time I came out, but around the time that I came onto the scene, my name may have been listed with the likes of them. I think it was probably because of the type of music that people associated with me. I mean, "The First Time I Ever Saw Your Face" was one of the all-time great lyrical ballads. Then you had songs in a similar vein coming from The Beatles like "Hey Jude" and "Let It Be." All of those songs were flowing so easily off of everyone's tongues at the time.

MR: Did your family listen to a lot of The Beatles' music?

RF: Not really. I was living with my newly divorced mother when I really started to work as an artist. I was a classically trained musician as a child and very focused on practicing and holding on to everything that I'd done up to that point artistically, but I listened to everything. I listened to music all day long, every day. When I say we didn't play music, I mean that there was never loud music playing throughout our household. I always listened to my music on headphones because I wanted to listen, learn, and know more about the kind of musical mind that I have.

MR: Roberta, you were 15 when you received a scholarship from Howard University. Really?

RF: That's right. (laughs) And I thought I knew everything about music until I heard some of those kids. I'm from Green Valley, Virginia, which was the only part of Arlington, Virginia, where black people were allowed to live at that time. We weren't allowed to move further north. But Green Valley was the place that most black people gathered as a community, so I didn't really get to see what was happening outside of the world I lived in. When I got to Howard University, I thought I knew what I knew - everything. I had been kind of playing since I was about four because my mother played the organ at church. Then I started studying classical piano when I was about nine. When I was 15, I was done with high school and ready to go on to college on scholarship and I thought I was a bad ass little somebody - that is, until I walked in and heard someone from somewhere around Hilton Head, South Carolina, sit down and play Chopin. So, I gained really great experience through all four years of college at Howard as a piano major.

When I was about to graduate, the Dean of the School of Music heard that I'd been playing at a little off-campus club, and he told me that I wasn't allowed to do that. My scholarship was for school, room, board and nothing else - everything else had to come out of my pocket. In that regard, I didn't have everything that I felt I needed as a teenage girl. So, when I got the chance to play there, I did, and made a little money. Once the Dean told me to stop, I did. When I got ready to graduate, he called me into his office and said, "Very few black people are able to have careers as solo musicians. And there's a saying that tells us, 'Those who can, do. Those who can't, teach.'" He told me that I could do, but that I had to learn to teach so that I could take care of myself. Because of that, I had to take some education courses before I graduated when I was 19. That, coupled with the teaching experiences I had prior to graduation, were absolutely essential to my development as a musician because it taught me to be in front of an audience. When I started out as a singer, I didn't have a repertoire. I didn't grow up around people playing jazz or gospel music. I was the person in my family that loved music. So, I've been very fortunate to have had some experiences that have enlightened me and broadened my understanding of what it is to be a performer.

MR: Eventually, you were discovered by Les McCann at a Washington, D.C. night club.

RF: That's right. I was at a little bar on Capitol Hill called Henry's - mostly a gay bar, but not totally. I started playing there for their Sunday Brunch. At that time, that was a hot place to go because brunch was still unusual around there. I would see all kinds of people when I played my shift from two to six - Mike Mansfield used to come in with his family, even a few of the Kennedys. The place was gaining a reputation because the food was good, and because I was starting to make a scene in the area as a teacher. One day, I was singing a song that talked about being in "my beautiful balloon" with my students, so I put a bunch of balloons in a box and released them right before I started the song. They went crazy...they loved it! I was sort of teaching my classes and getting my repertoire together as a musician at the same time. It was fun and helpful. I believe in destiny, and I think it was all planned. Most people may not know this, but I am generally a shy person. I get very nervous in front of people, especially one-on-one or twenty-on-one. (laughs) This background of being creative with music was so helpful to me and it taught me so many ways to interpret a song. That's how I truly developed "The First Time I Ever Saw Your Face" as a solo piece.

I taught it to my junior high school girl's glee club. If you've ever watched the television show Glee, you know how important it was for me to be there at that time and to be the one to teach them to sing all the hit songs in three part harmony. I was trying to get them motivated to learn more about music - how to read it, write it, and understand it. I wanted them to be able to do something more than just imitate what they heard someone else do. In order to do that, it was important for me to start with what they knew. But in order to make "The First Time I Ever Saw Your Face" my own, I had to change it from glee club mode to more of a confessional, slow feel. People asked me all the time who I was thinking about when I sang that song, and I always told them it was my cat. (laughs) Then, once I graduated on to a more serious relationship, the song took on a deeper meaning as most songs do. Funny story - years later, I was somewhere performing that song and one of my fans came up for my autograph and told me that when they were dating in college, her husband learned that song on the guitar and serenaded her with it. She thanked me, and I looked over at the gentleman with her and asked if it was her husband and she told me, "No." She said that was her second husband. (laughs) I didn't know what to think. (laughs) The reason I share that is because I think it's amazing the way that people relate to music. It's beautiful.

MR: It really is. On your new album, you recorded a particularly inspired version of the song "Hey Jude." Can you tell us about what that song means to you?

RF: That song, I sort of approached like it was a hymn. I wanted people to respond to it like they were hearing "Amazing Grace." I don't know if you've ever witnessed it, but "Amazing Grace" is one of those songs that you can hear in any country for any solemn occasion, you know? I only used my voice and guitar on the song. I'll be performing the song on Jimmy Fallon, and The Roots will be accompanying me and singing all of the background vocals. It's going to be truly beautiful.

MR: To me, it seems that the approach you took the song is like a nod to your early career, your early recordings, would you agree?

RF: Yeah, and I thank you for noting that. It is very much full circle for me. It's about coming back to basics and simplicity. Simple is always good because it's accessible. Music has to be accessible.

MR: What is it about music that speaks to you?

RF: The thing that engulfs me in music is the pulse. If I can find that heartbeat, I can live in there in that music. And the pulse can't always be found on two and four - sometimes it's erratic, you know? But if I can find the pulse, I can live inside that music. I think that's the same for everyone. I also think that that's what makes a song a hit.

MR: Speaking of paying respects to your earlier sound, the track "Here, There, And Everywhere" is actually from your Carnegie Hall 1972 performance.

RF: Oh, yes. I love it. And I had to use that one because, boy, I was feeling it that night. That was not too long after my divorce, and I was so sad and so in love, but mostly in love with the opportunity to sing and play that song. I had just met Joe Zawinul from Weather Report, and I was touring with him occasionally. We would go out on little tours, and during those performances, I was so influenced by the simplicity of his piano music. He would always tell me to play what I feel, and I always wanted to do that, so I played that song. As a matter of fact, I played one of his songs at that concert. I "tried" to play it at least. (laughs) It turned out pretty well. I just love the idea of taking a song and letting it own you while you own it as far as the interpretation goes. That's one of the reasons that no one has been able to sing "Happy Days Are Here Again" like Barbara Streisand does, because we all have an up-tempo song in our heads rather than the way she sang it. It was very important and personal to her. This recording of "Here, There And Everywhere" from Carnegie Hall is the same for me, I think. It's the height of my feeling for music and of my desire to be onstage singing.

MR: Beautiful. I also see a picture of you, John Lennon and Yoko Ono together on the packaging of the CD. What and when is that from?

RF: I think that was from a concert I did in the '70s at Madison Square Garden.

MR: Your album also came with glowing liner notes from Yoko Ono. Are you pals?

RF: Yoko lives right across the hall from me. I had the privilege of knowing both her and John because we all moved in the same year. We've been neighbors all these years and had some wonderful, beautiful, and interesting moments together. Also, some very sad moments, of course.

MR: Of course. I understand you've also started the Roberta Flack School of Music at the Hyde Leadership Chart School. Can you tell us about that?

RF: Sure. That school is a very big part of what I am trying to do at this moment. I have always had the feeling, and I believe this in my heart, that music is available to young people these days in so many ways that are not fundamental, but they're good and they qualify. It's almost like what's happened in the last 20 years with the gaming phenomena. Years ago, there were only games like pinball, and it was great. We had all kinds of games that required you to think and required some sort of strategy. Later, we moved on to playing games on TVs and computers. Now, we can play games anytime we want on our cell phones - that's how Alec Baldwin got in trouble. (laughs) I want music to be the same for these young people. I want them to be able to access it in a way that they weren't able to before. I want them to be able to move beyond what music used to be and be the innovators of what's next. In order to do that, we have to provide them with the correct tools. And not just the basic tools - it's letting them be exposed to amazing musicians like Stevie Wonder and The Beatles. My dream is to have Stevie Wonder come to the school and teach.

MR: That's wonderful.

RF: It's funny because I had a close friend by the name of Morris Pleasure say to me that he could probably teach Stevie Wonder a thing or to...and he probably could! (laughs) He was either the musical director or conductor for Michael Jackson's This Is It. One of his claims to fame was being the horn arranger for Earth, Wind & Fire for years. He's brilliant - I've worked with him many times before. In fact, in the version of "Come Together" on this album, he's the one playing the funky synth part. I deliberately work with people like him because I'm trying to inspire the young people at this school to the things that can be done with music when you work with people like Morris. More than just pushing buttons and coming up with cool melodies, they can be the people who create the buttons to push. That's what I'm trying to do, give them enough exposure to writing, reading, and playing music so they can become the next great songwriters and musicians. Kids these days are bodacious, and my goal is to give them more by teaching them the basics. If they want to be the next ones creating music, they need to know the background.

MR: So, is there any advice you would give to an artist pursuing a career in music?

RF: Study however you can. You can study by listening, practicing, working with someone - the list goes on. But most of all, never, ever, ever give up on the vision of what you see yourself doing. If you see yourself rapping, go ahead and rap. Everyone will be okay with it, and if it isn't, they'll get over it. People will like it or they won't. If they don't, it becomes your job as a musician to figure out why not. I never aimed for success. I aimed for success in the sense that when I performed a song, it had to move me. I want to give myself goose bumps. (laughs) I don't want to be analytical, I want to be satisfied. In order to do that, you have to do quite a bit of preparation up front. Some people don't, but that's rare. I always felt that Michael Jackson was one of the people that didn't have to prepare that much, even from the time he was a very little kid. Have you ever seen the video that I did with Michael called "When We Grow Up"?

MR: I did, it was very sweet.

RF: It is! I mean, I think I'm sweeter than he is in the video with my pony tails. (laughs) But I'll tell you, it was such a joy to work with him because he was so bright and sharp. We didn't have to do it a bunch of times. We did it a few times, and it was a lot of fun. When you have that sort of innate and instinctive gift, you can sort of relax and let it flow. But sometimes, you have to be truly inspired. Even Michael had to be truly inspired. He surrounded himself with a lot of hip-hop artists towards the end of his recording career. He found a lot of connections with artists who were on the cutting edge of modern hip-hop, which brings me to another point. You need to be able to talk about music. You need to be able to express musically what you want to accomplish, and that's what I'm trying to instill in these young people. Stay focused and inspired.

MR: Great. Kids, that's advice from Roberta Flack and you better take it!

RF: No, not "better take it"! (laughs) It couldn't hurt, though.

MR: (laughs) Nice. Roberta, what can we look forward to seeing you do in the next year?

RF: Well, I'm finishing an album called The Real Artists' Symposium or R.A.S. That's the name of my label and also the name of a group of musicians that I work with from Julliard and Berklee and all over the country. There are always a wealth of young musicians who can write string parts, play instruments, sing, and so on, that want to come out and work with me and the group. And we have had some incredible people involved - Luther Vandross, Marcus Miller, Katreese Barnes, and a lot of people more talented than I could ever imagine myself to be. But these people come and want to work in a setting that allows them to open up and create in that atmosphere I'm trying to provide for them. So, I'm working on an R.A.S. album, and we've already done a lot of recording on that. I'm also planning on making a Marvin Gaye tribute album in the future.

MR: You're just putting out albums all over the place, ain't ya. (laughs)

RF: That's right. I'll also be doing a lot of symphony dates, the biggest of which is a three night engagement at the Kennedy Center with the National Symphony in October. I'll be doing a lot of The Beatles' stuff. I'm so excited, I can't stand it.

MR: Roberta, this has been a joy for me.

RF: I hope you can tell that I've had fun.

MR: That's so cool, thank you so much for your time and love ya much, Roberta.

RF: Thanks, Mike. Love you too.

Tracks:
1. In My Life
2. Hey Jude
3. We Can Work it Out
4. Let It Be
5. Oh Darling
6. I should Have Known Better
7. The Long & Winding Road
8. Come Together
9. Isn't It A Pity
10. If I Fell
11. And I Love Her
12. Here, There, and Everywhere

AMAZON "DAILY DEAL" ALERT!
As part of a special promotion with Amazon.com, the digital download of the full album will be available for purchase at Amazon's MP3 store for $3.99 as part of their "Daily Deal."

Transcribed by Evan Martin

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Follow Mike Ragogna on Twitter: www.twitter.com/ragz2008

Source: http://www.huffingtonpost.com/mike-ragogna/meet-the-beatles-again-a_b_1256439.html

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Obama says he deserves re-election, job's not done

(AP) ? President Barack Obama says he deserves re-election, despite the nation's economic troubles.

Obama said in a pre-Super Bowl interview on NBC that his administration is creating more than 250,000 jobs a month, the most since 2005, and a reversal from the 750,000 jobs the economy was losing three years ago.

The president said American manufacturing still needs a boost and "We have got to make sure we are pushing American energy, not just oil and gas, but clean energy."

Obama also said the country needed to return to "old-fashioned American values," so "everyone gets a fair shake."

Three years ago, Obama said if the economy hadn't turned around by this time, his presidency would be "a one-term proposition."

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/89ae8247abe8493fae24405546e9a1aa/Article_2012-02-05-Obama-Economy/id-f5b7e86bdac943f0ac2ac4a53265606e

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Monday, February 6, 2012

Ebook and Online Business Opportunities Grow Confident | Online ...

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Suzuki ATV Models Are Having Amazing Utilities ? hot news

Suzuki Motor is the name that has been twinkling in the entire automotive industries with greater pride and prestige. The company has manufacturing line of creating ATVs, Motorcycles, Cars and Cycles. The company is the 9th largest manufacturing companies in the world in the automotive industries and also has sales of the vehicles sale in 192 countries of the world. The There are many of the models of Suzuki that have gained immense popularity in the people and also have become quite preferred and reliable in the eyes and minds of people. ATVs are the vehicles in which the company has gained great reliability.

History :-

The company that was founded in 1909 started producing the ATV models in 1970?s. This was the era in which there were quite few manufacturers of ATVs available and Suzuki established the names with greater style and passion. IN 1982 the ATV production unit was started in Canada also and it gained huge momentum and appraisal from the ATV lovers. The Company then never turned back and the production of ATV earned massive response from the people as well.

Production Line :-

The ATV production of ATV of Suzuki has got wider wings. The company is producing three main types of ATVs. The Utility Sport ATVs, Sport ATVs and Kids ATVs are the main types. Out of these three types the Utility ATV models are produced in larger quantities and wider model availabilities. Let us check the Utility ATV models and their utilities in brief.

Utility ATVs :-

The King Quad is one of the most popular vehicles and also the oldest one which is making the ATV line up quite enriched and empowered. The King Quad 750 AXi is also available with the facility of Power Steering and the Camo model of the same is having dynamic speeds and performances. Also the Limited additions of King Quad 750 are produced by Suzuki to attract the special ATV seekers. The Rockstar addition is the latest launching of 750 AXi. After that, the company has produced many of the King Quad models with different power capacities like 500 AXi, 450 AXi and so on. The King Quad 400 AS is also quite popular in Construction industries. The Anniversary addition is special addition to the entire range of models. THE King Quad 400 FS Anniversary addition has been striking the ATV industries.

So, these are some of the most popular and pivotal models of Utility ATV range. All of these models are having aggressive utilities to many of the professionals and individuals as well.

Utilities of Utility ATVs :-

The Utility ATVs are used in many of the sectors, industries and also are quite popular in many of the professionals or individuals due to the sizes and performances of the models. Here are some of the most important users of Suzuki Utility ATVs.

The Hunters :-

The Hunters are having exclusive utilities of these ATV types as the structure of the vehicle is created in such manner that they can get side protection and also the height of the models can allow them to see at far distance easily which is quite important for the Hunters in the forests. Also these vehicles are having better speeds and movements. The reliability and longer lastingness of the Suzuki ATVs are unparallel. These are some of the reasons that are making the Utility ATVs more popular in the hunters.

The Farmers :-

The Utility ATV models of Suzuki are also having better advantages for the farmers. The heavier off-road vehicles are offering better balancing of the lands and also he farmer can saw the seeds or can perform any of the functions with the help of ATV ridings. The Suzuki ATVs are quite stronger and their wheels are firm enough to get driven on the imbalanced farms and also on the lands that are required to get balanced. The farmers are one of the heaviest users of ATVs.

The Construction workers :-

The Construction workers also use these vehicles to make their performance of moving one to site to another possible. Also the leveling of the lands is done by these Suzuki ATVs. There are many of the construction workers who carry their heavier loads in their vehicles and also are offering the most performance based utilities to the Construction industries.

These are some of the highlighted and heavier users of Suzuki Utility ATV users. Suzuki ATVs are also available in the market by the dealers in the form of Cheap Used ATVs online and cheap used ATVs. There are many more of the ATV creators who are producing the range of Utility ATVs like Polaris ATVs, Honda ATVs, Kawasaki ATVs, Yamaha ATVs and many more. These ATV manufacturers are promoting the ATVs for sale online with the help of dealers. Get in touch with these vehicles and get the best possible combination of fun and performance with ATVs.

Source: http://hotnews.blogspages.com/2012/02/06/suzuki-atv-models-are-having-amazing-utilities/

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Sunday, February 5, 2012

Web Design & Internet Marketing Services UK - Marketing UK

Online Marketing is a major source of revenue for online business. It is a process of promoting online business by creating creative and attractive ad campaigns to generate sales and revenue. Online marketing creates new avenues for clients to explore their business vibrant and increases the traffic for your website. Internet marketing can attract more people to your website, increase customers for your business, and enhance branding of your company and products.

To market your online business, the foremost requirement is having an effective web design for your website. Website is like a mirror image of your online business. A dynamic website will prove to be the most effective promotional factor for improving the presence of your business online. To market your website in order to enhance your business either offline or online, you need to adapt to techniques of online marketing.

The most modern way of advertising your business online is through online marketing. Search Engine Optimization, Search Engine Marketing, E-mail Marketing, Affiliate Marketing and Social Media Marketing.

Online marketing is an important aspect for any online business exposure and part of marketing strategy. With the advent of internet technology, the scope for online business has increased tremendously among manufactures of various products related to health, beauty, herbals, gifts, apparels and many more utilities. To get more targeted customers to buy your products online, your website need to top on search engine results page.

Search Engine optimization is the most effective methods to bring your website to the top list of Google search engines pages. It is an organic way of optimizing the WebPages with the various techniques and procures involved in it that include on page and off page optimization methods.

The method consists of Title/Meta/Alt/Header/Content Tag optimization, Canonical, URL redirections, article & Press Releases Submission, Directory Submission, Social bookmarking, Blog and Forums and local listings.

Search Engine Marketing is a technique of online marketing, which promotes websites in order to increase their visibility and brand images. The process of SEM includes SEO, PPC marketing, ad placements and contextual advertising. The Main of SEM is to convert the traffic into big business leads. It is a quick time to market and gets faster returns on investment.

E-mail Marketing is the process of advertising online products and services through e-mails. Mostly E-mail marketing is preferred by the merchants as it is economical and effective technique of online marketing. Creative e-mail templates and newsletters are used to promote your website and your business.

Affiliate Marketing is a dynamic way of online advertising where there is a beneficial business for merchant and the affiliate. As the merchant has to pay the affiliate only if any productive sale or dead takes place through affiliate marketing. If a sale or lead takes place it is going to benefit the merchant with the sale of his product and the affiliate can get the commission of the sale of the product.

Social Media Marketing is the most advent way of creating social awareness through social media platforms like Facebook, Twitter, Flickr, Wikipedia, Orkut and YouTube. It creates a buzz for your company, services and products within a community context.

Select the right mix of online marketing techniques to build a brand image to your company and online business.

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Source: http://www.marketinguk.co.uk/2012/02/05/web-design-internet-marketing-services-uk/?utm_source=rss&utm_medium=rss&utm_campaign=web-design-internet-marketing-services-uk

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Hungary seeks 15-20 billion euro IMF/EU credit line: official (Reuters)

BUDAPEST (Reuters) ? Hungary is seeking an international credit line of 15 to 20 billion ($20 to $26.3 billion) euros, the secretary of state heading the prime minister's office, Mihaly Varga, was quoted on Saturday as saying.

Hungary is seeking backup from the International Monetary Fund and the European Union to reassure investors it has financing even if it gets cut off from debt markets later this year.

The country's currency, the forint, sank to a record low against the euro a month ago, and its government bond yields rose above 11 percent on concerns that amid the euro zone crisis it may not be able to finance central Europe's highest debt burden compared to its economic output.

Varga reiterated that the government expected to reach a deal soon on a credit line that it could tap if the European debt crisis deepened further.

"A quick agreement is in the interest of both parties, therefore a deal could be outlined in one or two months," he said in an interview in the daily Magyar Hirlap.

"The amount of the safety net could be somewhere between 15 and 20 billion euros," he added.

Hungary's government unnerved investors repeatedly in 2010 and 2011 with unorthodox economic policy steps. It has also upset the European Commission with a range of legislation including a central bank bill that the Commission said curbed the bank's independence.

The country's markets have partially recovered due to pledges by the government to settle these issues and set up the international credit line.

"The planned financial backstop will allow the forint exchange rate to stabilize and government bond yields to drop, and it could lead to savings worth tens of billions forints in the budget," Varga said.

The EU has threatened to cut vital 'cohesion funds' it disburses to Hungary unless the country takes measures to prove that it can reduce its deficit to a sustainable level.

But a slowdown in the economy makes further budget cuts difficult. The government expects 0.5 percent growth for the year and the IMF 0.3 percent, while the European Bank for Reconstruction and Development projects a 1.5 percent contraction.

"In a hectic global environment it is more difficult to increase the pace of growth in the Hungarian economy to a sustainable course," Varga said. "An upswing could start when we get to the second half of 2012."

($1 = 221.2011 Hungarian forints)

(Reporting by Sandor Peto; Editing by Hugh Lawson)

Source: http://us.rd.yahoo.com/dailynews/rss/business/*http%3A//news.yahoo.com/s/nm/20120204/bs_nm/us_hungary_imf

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