Some Questions of Introducing Euro in Hungary

Abstract

The euro is an economic and business project and is connected with substantial company (TNCs) interests. The saving of transactional costs is a factor of their global competitiveness. It relates to the high level of integratedness of the Union and the structure of internal market. Originally, the construction of the euro was shaped along the interests of the core countries, and the price stability enjoyed absolute priority. By enlargements this had to be extended to convergence as a factor of stability of the whole structure. The reforms of euro governance after 2010 have addressed these problems only partly. The main flagships of euro are the TNCs. As Hungary is highly transnationalised, there is no obstacle for the foreign TNCs for using the advantages of euro. While the adoption of the euro is a general national interest, noone would 
promote the whole process. Hungary has a special construction of dual currency structure with a floating national currency (similarly to other countries of the region). But this is suboptimal to full euro zone membership. It is a basic Hungarian interest to take part directly and from inside in the further reforms of the euro system.