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Opinion

Not so Hungary for euro

Hungary started its six-month stint as the rotating president of the 27-member European Union on January 1. In that post, Hungarian officials get to chair meetings of national ministers, including the closely watched monthly gathering of finance ministers. It’s certainly in the hot seat as the sovereign debt crisis lingers and markets speculate about the future of the euro as a currency bloc. A bloc that Hungary isn’t yet part of. A source tells Euromoney of a December meeting he attended in Brussels where he and others met with Hungarian officials. The source asked the Hungarians to give their views on the future of the euro. One official started with a diplomatic ramble about the importance of a strong currency for economic stability, then stopped mid-sentence. “Actually, we are not part of the euro, and so we don’t really care,” the diplomat continued, not so diplomatically.

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