Rogán: Hungary Would Suffer If It Replaced Forint With Euro
- 20 Jan 2015 8:00 AM
Hungary is likely to have fulfilled the preconditions for adopting the euro by 2020 but it would only be worth contemplating replacing the forint if it appeared that the country would benefit from such a move, Antal Rogán, parliamentary group leader of the ruling Fidesz party, told journalists. In a recent interview to Magyar Hírlap daily, Rogán said that the Hungarian economy would be in a fit state for adoption of the single currency between 2018 and 2020.
He told journalists today that 2020 was the more likely date, and he emphasised his personal opinion was that Hungary should not introduce the euro because it would do badly as a result.
“Countries in central Europe which have the euro as their currency are not doing too obviously well,” he said, mentioning Slovenia, whose economy is in the doldrums, and Slovakia, which has had to grapple with high price rises due to the currency’s introduction.
Rogán noted that it would be necessary to change Hungary’s constitution in order to adopt the single currency. He added that when it comes to crossing the bridge, this could be achieved either through a parliamentary vote or via a popular one.
Until that point, the most important is for Hungary to maintain a low budget deficit and high growth, he said.
Source www.hungarymatters.hu
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