Some Remarks on the ‘Hungarian Euro’

Abstract

The author strives to answer why Hungary has stayed out of the Eurozone thus far and whether there is any chance of accession in the near future. To do so, in the first part of the paper, the author briefly introduces the ‘half-built house’ characteristic of the Economic and Monetary Union and, then, in the second part, introduces how the Hungarian Central Bank and the Hungarian scientific literature evaluate the pros and cons of the accession to the Eurozone. Finally, the author briefly analyses the Hungarian convergence data to draw a conclusion on whether Hungary could have—and should have—accessed the Eurozone.