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Hungary: Experts debate on adopting the Euro

There are more arguments for the earliest possible joining of the euro-zone than against it, but the right parity have to be chosen very carefully and several other factors are to be considered as well, said Judit Neményi, member of the Monetary Council at a financial conference.

“The institutions are weak and the central bank is strongly restricted in its independence”, so there will be no euros in Hungary in the near future, said István Hamecz, former chief economist of the Bank, voicing a more pessimistic view. Previous bank-chief Zsigmond Járai said the current Monetary Council was a “Gyurcsányist puppet-show”, which opinion was strongly criticized by other participants of the conference. György Szapáry, a former vice-president underlined the inflationary pressure caused by price-level convergence in pre-accession countries in the next years that would make the revision of the Maastricht inflation-targets reasonable. (Gazdasági Rádió)