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“Stronger Together” Series: The Future of the Euro

On the 21st March, the Institute for Foreign Affairs and Trade (IFAT) and the State Secretariat for European Union Affairs of the Hungarian Prime Minister’s Office jointly organized a roundtable discussion, titled „The future of the euro: the reforms of the eurozone and the perspectives of non-eurozone countries”, within the framework of the „Stronger Together - Mapping a New Path for the European Union” series.

The participants of the roundtable discussion analyzed the future of the eurozone from the perspective of Hungary and other non-eurozone members, as well as the actual economic trends. György Szapáry – Chief Advisor to the Governor of the Hungarian National Bank – addressed the topic of reform plans, their support by various member states, political and economic challenges that the European Union and the eurozone is facing today. Zoltán Török – Senior Analyst of the Raiffeisen Bank – talked about the future of the eurozone, former arguments in favor of joining to the currency area, the standpoint of the Hungarian National Bank today and the non-eurozone members’ position. Balázs Molnár – Deputy State Secretary for EU Affairs at the Prime Minister's Officedescribed the government’s standpoint and interests to the audience, concerning the Multiannual Financial Framework, the question of employment abroad, the competitiveness of the Hungarian economy and post-Brexit challenges.

After the short presentations held by the panelists, the invited experts answered the questions of the audience, focusing on the strength of political arguments over economic ones, the societal support to the introduction of the euro as well as the necessary economic conditions to join. Márton Ugrósdy, Deputy Director for Strategy at the Institute for Foreign Affairs and Trade moderated the discussion.