Orban opposes the introduction of the euro in Hungary: EU is falling apart

Hungarian Prime Minister Viktor Orban has ruled out the possibility of introducing the euro in the country during his term. He said this in an interview with the Economx Money Talks podcast.

"The European Union is in a phase of disintegration. It is disintegrating right now. And if a radical transformation of the Union does not take place within one or two years, which I do not see the ability to do today either from Brussels bureaucrats or from the leaders of the leading national states, this process will continue, and the European Union will become a past episode in our lives. Therefore, Hungary should not tie its fate more closely to the European Union than it is now. And the introduction of the euro would be the closest possible connection," he said .

Orban answered a journalist's direct question about the possibility of introducing the euro in the coming years unequivocally: "It will definitely not be on my desk.".

The question about the euro came up in a large interview where Orban discussed the government's economic policy.

The introduction of the euro in Hungary is impossible not only because of a lack of will. The country does not meet the conditions of the Maastricht criteria – in particular, in terms of budget deficit, inflation and external debt, as well as purchasing power parity, which is far from reaching the required level for the euro area.

• Other countries do not support Orban's pessimism. Since January 1, 2023, the number of EU countries using the euro instead of national currencies has increased to 20 – Croatia has joined the eurozone. Bulgaria will switch to the euro in 2026 .