Eurozone countries need an exit door – Hungarian governor

gyorgy-matolcsy
György Matolcsy

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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