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Rushed introduction of euro could hurt Hungary's growth, cbanker warns

October 6th, 2021

A rushed adoption of the euro that ignores differences in the levels of economic development between Hungary and the euro zone could sacrifice Hungary's growth and even pose risks to its stability, a member of the central bank's Monetary Council said on Wednesday. Countries with uneven levels of economic development could be hurt by not having the option to chart their own monetary policy course due to using a single currency, Peter Gottfried told an online roundtable discussion organised by the scientific periodical Financial and Economic Review and the Hungarian Economic Association. A decision by the European Central Bank could prove too lax for one country while being too stringent for another, he said.


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