The EU is falling apart: Orban's anxiety about not making the same mistake that Greece and other states made

 

Greece, like other EU states, adopted the euro a few years ago, and they’ve been running ever since!


Hungary should not adopt the euro as the EU is “disintegrating” and Hungary should not tie its fate more closely to the bloc, Hungarian Prime Minister Viktor Orbán said in an interview with the economic news website EconomX on Tuesday.

Hungary, which depends on the 27-nation bloc for most of its trade and has modernized its economy with billions of euros in EU funds since joining two decades ago, does not currently meet the criteria to adopt the euro.

Unlike Denmark, Hungary does not have a legal opt-out from the eurozone.

Some of its eastern EU neighbours, including Poland, the Czech Republic and Romania, also remain – at least for now – outside the euro.

Orban, in power since 2010, has been an increasingly vocal critic of the EU, which has suspended billions of euros in aid to Hungary over the nationalist leader’s rule of law reforms.

“Hungary should not tie its fate more closely than it does now to the EU, and adopting the euro would be the closest possible link,” Orban said.

In essence, the right-wing leader of Hungary, following the developments in the now-memorandum France, sees "dark days" coming for the Eurozone as a whole and does not want his country to be linked to a "sick currency" under any circumstances.