Madyar: Hungary should join the eurozone as soon as possible

Government position on currency integration

Hungarian Prime Minister Peter Madyar expressed support for the idea of the country joining the eurozone as soon as possible. He stated this while speaking with journalists in Budapest.

The head of the government did not specify an exact date for replacing the national currency — the forint — with the euro, but emphasised the priority of the speed of the process, stating: «Чим швидше, тим краще» (The sooner, the better).

Economic arguments and transition mechanism

According to Madyar, the switch to the European currency will be a significant impetus for achieving price stability and increasing predictability in the economy. He explained that to implement this plan, Hungary, as a member of the European Union, must first enter the ERM-2 (Exchange Rate Mechanism II) «waiting room».

The next step, in the prime minister's view, should be the direct transition to the euro, which, according to him, will take place «якщо ми всі проголосуємо за» (if we all vote for it).

Impact on credit policy

Madyar emphasised that joining the eurozone will benefit the country's entire economy. In particular, a reduction in borrowing costs is expected, which will have a positive impact on mortgage loans for citizens.