Eurozone countries need an exit door – Hungarian governor
European attempt to challenge the dollar has led to “open US warfare against EU”, Matolcsy says
Hungary’s central bank governor has called the euro “a trap” and said the European Union must give members a way to exit the single currency.
Hungarian national bank governor György Matolcsy argued that the euro still lacked “most of the necessary pillars of a successful global currency”. The missing pieces included a common government, a budget that amounted to at least 15% or 20% of the eurozone’s GDP, and a finance ministry with powers over the whole bloc.
Hungary is a member of the EU but
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