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Adopting the and thus “stabilising” the country’s position in the European Union is “clearly” in Hungary’s interest, opposition Socialist (MSZP) MEP István Ujhelyi said.

Ujhelyi insisted that the government was “deliberately weakening the forint” to benefit “its own circle of friends, the oligarchs”. He added that the weak forint and “brutal” inflation were heavily weighing on wage earners.

Ujhelyi noted that while the euro-forint exchange rate was around 1:280 in 2010, the euro was now trading above 350 forints.

Ujhelyi went on to say that Prime Minister Viktor Orbán “does not really mean to adopt the euro because that would cement Hungary in the EU and he would lose his room for manoeuvre to blackmail Brussels and woo Moscow and other Eastern dictatorships”.

Featured photo illustration by European Parliament.