Hungary’s Cautious Stance on Euro Zone Accession 

At Tihany's Tranzit Festival, Finance Minister Varga Mihály highlighted Hungary's need for economic stabilization post-crises before considering Euro Zone membership.


At the Tranzit Festival in Tihany, Hungarian Finance Minister, Varga Mihály, emphasized the need to restore Hungary’s economic balance after two crises before considering joining the Euro Zone. He noted that while a January Eurobarometer poll showed 72% of Hungarians support the euro for stability, the adoption would mean sacrificing an independent monetary policy and risking decisions being dominated by core Euro Zone countries. Gyula Pleschinger from the National Bank of Hungary highlighted Hungary’s distance from meeting the Maastricht criteria, foreseeing potential accession only in the 2030s. Citing Croatia’s euro adoption, driven by its tourism sector, and Slovakia’s challenges post-adoption, Varga argued for a cautious approach, underscoring that economic policy quality is pivotal, and Hungary’s focus should be on stabilization first. 

Source: hungarytoday.hu

Jakub Warzecha

Creative copywriter, archaeologist. Interested in history, technology and military matters. Specializes in marketing communications and application architecture design.

Latest from Hungary