An entirely “mature euro” is necessary for the common currency to be able to withstand future crises, Matolcsy said, noting that when the euro was introduced, Europe was enjoying prosperous times and there was no thought of another economic crisis.

The NBH organises the Lamfalussy Lectures each year to honour Sándor Lamfalussy, the Hungarian-born “father” of the euro.

MTI Photo: Bruzák Noémi