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Hungary should not adopt the euro, Demján says

TriGránit head Sándor Demján advised the government not to introduce the euro and warned that the recovery of the Hungarian economy could take as long as 15 to 20 years. Demján talked about such issues in an interview with political daily Népszava.

In the interview, Demján said he "protests" against the introduction of the common European currency and prefers using the Hungarian currency’s exchange rate to maintain competitiveness.

Talking about the governemnt fiscal adjustment package, he said that he liked the Széll Kálmán Plan, however, it could take 15 to 20 years to fix the Hungarian economy due to the current huge state debts. The most important thing for the economy is to reduce taxes, he added. State-owned companies should be founded in order to create new workplaces, and the private sector should also create new workplaces, he noted.

In another interview with online property and investment portal Ingatlan és Befektetés on Tuesday, Demján stressed that hypermarket chains are essential in Hungary and said that Hungarians should establish hypermarket chains to compete with multinational ones currently dominating the local market instead of complaining. The Hungarian economy should build the capacity required to supply hypermarkets, he added.

The idea of keeping all hypermarkets and shopping malls closed on Sundays, which was presented by the governing KDNP a few months ago, is based on nostalgia, the businessman noted.