Hungary to adopt euro 'in the coming decades', says Matolcsy

Hungary will adopt the euro "in the coming decades" and needs to learn from the lessons of the past concerning the processes affecting the common currency, National Bank of Hungary (NBH) governor Gyorgy Matolcsy said in a presentation delivered at the central bank's annual Lamfalussy Lectures on Monday. An entirely "mature euro" is necessary for the common currency to be able to withstand future crises, Matolcsy said, noting that when the euro was introduced, Europe was enjoying prosperous times and there was no thought of another economic crisis. The NBH organises the Lamfalussy Lectures each year to honour Sandor Lamfalussy, the Hungarian-born "father" of the euro.