Hungary and the euro

While the Hungarian government has been planning since 2003 to replace the Hungarian forint with the euro, as of 2014, there is no target date and the forint is not part of the European Exchange Rate Mechanism (ERM II). An economic study in 2008 has found that the adoption of the euro would increase foreign investment in Hungary by 30%, although current governor of the Hungarian National Bank (MNB) and former Minister of the National Economy György Matolcsy said they did not want to give up the country's independence regarding corporate tax matters.