Hungary’s PM Orbán Discusses Euro Adoption Plans
Hungary’s Prime Minister Viktor Orbán emphasized the importance of a strong middle class in the future during the Lamfalussy Conference organized by the National Bank of Hungary in Budapest. Orbán stated that stability, security, and foreign policy based on connectivity will be key factors moving forward.
He highlighted the shift towards a sovereigntist era, replacing liberalism, and emphasized the need for nations to have the capability to protect themselves. Orbán focused on the competition between state organization models and the importance of a strong middle class as the foundation for success in the coming decades.
Orbán discussed Hungary’s foreign policy approach, emphasizing the country’s connections with the US, China, and Russia. He also mentioned Hungary’s efforts to strengthen the middle class through employment and financial policies, despite challenges such as sanctions and economic losses related to geopolitical conflicts.
Regarding the euro, Orbán explained Hungary’s decision not to adopt the currency, citing concerns raised by economist Lámfalussy. He highlighted the need for a common fiscal policy in the eurozone to enhance competitiveness.
Orbán acknowledged the work of central bank governor György Matolcsy and economist Jeffrey Sachs in promoting economic convergence in Central Europe. He also criticized globalists who, according to him, have shifted from promoting neoliberal principles to profiting from conflicts and war.
In conclusion, Orbán expressed optimism about Hungary’s future in the evolving global economy, emphasizing the country’s efforts to find its place and ensure prosperity. The conference sparked discussions on economic policies, global trends, and the role of the middle class in shaping the future.
