Euro zone countries should be allowed to stop using the single currency over the coming decades, the Hungarian central bank governor has argued in an article for the Financial Times.
, currently used in 19 European countries, was introduced in 1999 and under EU rules every member of the wider political bloc should ultimately adopt the single currency. Hungary is still yet to sign up despite repeated moves to ditch the forint.
"The common currency was not needed for European success stories before 1999 and the majority of euro zone member states did not benefit from it later," Matolcsy said in the opinion piece.
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