Majority of Hungarians in Favor of Adopting the Euro
Hungarians Open to Introducing the Euro, but Majority Say Country Not Ready Yet
A recent survey conducted by the European Commission reveals that Hungarians are open to the idea of adopting the euro as their currency. However, the majority still believe that the country is not yet ready for such a transition.
The survey, conducted in six non-euro area member states including Hungary, shows that 60% of people in these countries believe that the introduction of the euro would have a positive impact on those who have already adopted it. A majority of respondents also believe that the euro would have positive consequences for their own country as well as for themselves personally.
In Hungary, 72% of those polled support the introduction of the euro, while 25% oppose it. This marks an increase in support over the past ten years, with opposition decreasing by three percent. The survey also found that 62% of Hungarian respondents believe that the introduction of the euro would have a positive impact on the country’s finances, while 31% disagree. However, 65% of Hungarians fear that the changeover to the euro would lead to higher prices.
Despite the openness to the euro, some concerns still remain among Hungarians. Twenty-six percent of respondents believe that the introduction of the euro would cause the country to lose part of its identity, while 27% think that Hungary would lose control over its economic policy. However, 72% of respondents disagree with the notion that the country would lose its identity, and 70% disagree with the idea that Hungary would lose control over its economic policy.
The survey also revealed that 41% of Hungarians would introduce the euro in Hungary immediately, while 35% would wait and 13% would wait as long as possible before adopting the common currency. Nine percent of respondents would never change the forint for the euro.
It is important to note that the forint, Hungary’s current currency, has a long history and has been used in various countries throughout history. It was introduced on August 1, 1946, to replace the Hungarian pengo after the hyperinflation of 1945-46.
While the survey shows that Hungarians are open to the introduction of the euro, it also highlights the need for further preparation and consideration before such a transition takes place.
