We need to admit the Euro was a mistake HU Central Bank Governor Calls for an Exit-Mechanism

YouKnowWhatIMeanLike

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(this thread was deleted by politics.ie due to server and backup failure New - Recent Forum Outages)

Back in November despised Hungarian central bank governor Gyorgy Matolcs called for an exit mechanism. Finding ways out of the euro trap, breaking the harmful dogma that the euro was the “normal” next step towards unifying western Europe.

"We rarely admit the real roots of the ill-advised decision to create the common currency: it was a French snare. As Germany unified, François Mitterrand, then French president, feared growing German power and believed convincing the country to give up its Deutschemark would be enough to avoid a German Europe. The chancellor of the time, Helmut Kohl, gave in and considered the euro the ultimate price for a unified Germany.

They were both wrong. We now have a European Germany, not a German Europe, and the euro was unable to prevent the emergence of another strong German power."


The right-wing leaning governor of the Hungarian National Bank has a point. There needs to be an alternative to the US hegemony on this side of the Atlantic. We can't simply bend over and let the US have it happen their way. As he demands the 30th anniversary in 2022 of the Maastricht treaty that spawned the euro is a good time to rewrite and develop a new pact not only to counter risky fantasies of creating a power that rivals the US and prevents a strong Germany or even inhibits it permanently but allowing members of the Eurozone to leave the currency zone to build a better and strong euro currency he concludes.

Sync said:
We had the Euro before Hungary joined. The exit mechanism is the one the UK is availing of right now. Hungary is welcome to take it.
you bet HU is not going to pay the 7bn into that 500bn euro rescue fund without a guarantee that the monies will be used exclusively in Hungary.
 


blinding

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The Brits are absolutely delighted they stayed out of the Euro ! !

That everybody; The People; Business, The Banks, The City, The Dogs in the Street and the Dogs in Houses, And the All the Cats Agree with everybody else about this !

One Very Lucky Escape for the Brits. Another Great Escape in fact !
 

Montgomery Brewster

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The Brits are absolutely delighted they stayed out of the Euro ! !

That everybody; The People; Business, The Banks, The City, The Dogs in the Street and the Dogs in Houses, And the All the Cats Agree with everybody else about this !

One Very Lucky Escape for the Brits. Another Great Escape in fact !
Absolutely.
 

Lord Talbot

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The Brits are absolutely delighted they stayed out of the Euro ! !

That everybody; The People; Business, The Banks, The City, The Dogs in the Street and the Dogs in Houses, And the All the Cats Agree with everybody else about this !

One Very Lucky Escape for the Brits. Another Great Escape in fact !
Not really a lucky escape. They were never close to joining.

They were in ERM II for 5 minutes.

ROI meanwhile jumped in with both wellies. Well, at least no more nuns on banknotes.
 


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