Prospects of Euro Adoption in Hungary

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Series Details No.97, October 2017
Publication Date 13/10/2017
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The Polish Institute of International Affairs is an analytical institution established by an act of Parliament in 1996 to carry out research and provide expertise in international affairs. PISM disseminates information on contemporary international issues and maintains contacts with academic and political centres in Poland and abroad. The Institute runs courses for public servants, maintains a library (open to the public; 165,000 books and journals), organises conferences, and publishes books, periodicals and documents on Polish foreign policy and international matters.

The funding for PISM comes from the budget. The director is appointed by the prime minister for a term of five years, following consultation with the minister of foreign affairs. The minister supervises the Institute and appoints its advisory council, which includes a representative of the President of the Republic of Poland, academics and officials.Hungary did not have a clearly defined position on the adoption of the euro. While the central bank opposed the quick introduction of the single currency, the government showed it was open to it, leaving room for manoeuvre in case of political consolidation of the eurozone. Such a scenario would probably induce the government to decide on euro adoption despite doubts about its economic benefits.

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