Budapest, October 6, 2025 — Hungarian Prime Minister Viktor Orbán has declared that Hungary will not adopt the euro, arguing that the European Union is fragmenting and that deeper integration would endanger the nation’s sovereignty.
In a high-profile interview published Monday, Orbán said that joining the eurozone would “tie Hungary’s fate too closely to a bloc in flux.” Unlike some member states, Hungary has no formal opt-out clause from euro adoption, making his stance a deliberate defiance of EU expectations.
Orbán’s Case Against the Euro
Orbán outlined three key reasons for rejecting the single currency:
1. Economic Sovereignty – He warned that euro adoption would strip Hungary of its ability to manage its own monetary policy in times of crisis.
2. Unreliable Bloc – Calling the EU “disintegrating,” Orbán questioned the political cohesion of the union, suggesting full monetary integration carries more risk than reward.
3. Readiness Concerns – Hungary still falls short of several euro convergence criteria, particularly inflation, debt, and exchange-rate stability.
“Hungary should not tie its fate closer to the European Union than now, and adopting the euro would be the closest possible link,” Orbán stated.
Opposition Pushback
Orbán’s position is facing strong criticism from his political rivals, especially reformist opposition leader Peter Magyar, who argues that Hungary should rebuild trust with Brussels, unlock frozen EU funds, and prepare for eventual eurozone entry.
Critics contend that Orbán’s refusal may isolate Hungary within the EU, undermining economic stability and investment opportunities. They argue that deeper integration could help Hungary modernize its economy and secure much-needed financial support.
EU Pressure and Legal Obligations
The European Commission maintains that all member states without opt-outs are legally bound to adopt the euro once they meet the necessary criteria. Brussels has also withheld billions in funding from Hungary in recent years over concerns about rule of law and democratic backsliding, intensifying the political charge surrounding euro adoption.
Despite this, Orbán’s government insists there is no urgency. “Readiness, not deadlines, should determine Hungary’s decision,” officials in Budapest reiterated.
What Lies Ahead
• Hungary’s 2026 national elections are expected to make currency and EU relations central campaign issues.
• Observers are watching to see whether Orbán’s rhetoric translates into long-term reforms or a hardened resistance to integration.
• The opposition continues to campaign on restoring EU funds and pushing toward euro adoption as a path to stability.
For now, Orbán’s message is clear: Hungary’s sovereignty and national identity outweigh the pressure to join a eurozone he sees as unstable and in decline.
