The must-have newsletter about Hungary

Related Articles

DK: EP SETS UP BODY TO AID EURO INTRODUCTION

 

The European Parliament’s economic and monetary affairs committee has set up a body aimed at helping countries that have yet to introduce the euro with adopting the single currency, an MEP of the opposition Democratic Coalition (DK) said. Addressing a press conference, Csaba Molnár, who initiated the establishment of the working group, said all EP parties were contributing to the work of the body. The group’s sole task will be to aid member states that have not yet adopted the euro, such as Hungary, the Czech Republic or Poland, he added.
Molnár noted that Hungary had committed to introducing the euro when it joined the European Union in 2004. He said that in recent years the forint had gradually become weaker against the euro, “but this past week the Hungarian currency has really been to hell and back”. Molnár said that while in 2010 one euro had cost only 274 forints, the exchange rate was currently at around 340 forints per euro. Citing government data, he said inflation had reached 4.7% at the beginning of the year, adding that this was reflected in consumer prices.