On a good morning for Hungary on the water, it also took the gold in the men's double kayak final.

CNN: Olympics Day 12: Golden day for the U.S.

As you can see, while they enjoyed robust growth in the days before the bubble popped, both the Czech Republic and Hungary have been treading economic water for quite awhile.

FORBES: If You're Looking for Economic Stagnation Don't Look at Russia, Look At Hungary and the Czech Republic

At issue is the sale by Hungary's Ministry of Environment and Water of 800, 000 certified emission-reduction credits (CERs).

ECONOMIST: Carbon markets

Basketball drew a big crowd for Argentina against Serbia-Montenegro, and so did a marquee match in water polo between defending Olympic champion Hungary and Serbia-Montenegro.

CNN: Athens struggles to fill stadiums

Other major events marking the Year include World Water Week, in Stockholm (Sweden) from 1-6 September, a conference on water cooperation in Dushanbe (Tajikistan), also in September, and the Water Summit, which will take place in Budapest (Hungary) on 10 and 11 October.

UNESCO: OFFICE IN BRASILIA

Other major events marking the Year include a conference on water cooperation to be held in August in Dushanbe (Tajikistan), World Water Week in Stockholm (Sweden) from 1-6 September, and the Water Summit, which will take place in Budapest (Hungary) on 8 to 11 October.

UNESCO: MEDIA SERVICES