Euróvilág: elváló utak?
Euro Adoption: The Roads Diverge?

Summary/Abstract: On May 1 2004, the European Union did not let the ten new accession countries join the monetary union and did not elaborate for them a modified stability pact that would better match their specific conditions. Owing to a currency regime that struggles with serious internal contradictions and the slowdown of the process of adopting the European Constitution, even in the euro zone there is now less enthusiasm about the enlargement. Hungary has done well in the last ten years but produced a two-faced development. It may draw important lessons from its own accomplishments in the second half of the nineties, the smaller and more successful countries of the euro zone, and countries that chose to opt out. Fast growth, sustainable balance and future-oriented reforms are things which, as a result of organic development, will lead the country into the euro zone, and may make operation of the economy comfortable and secure from the aspect of international finances – even outside the monetary zone for a time, says the columnist of Népszabadság on economic and financial issues.

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