Hungarian parliament rejects motion on adoption of the euro

On Tuesday, Hungary’s parliament voted against a motion brought forward by independent MP Zsuzsanna Szelényi calling on the government to begin the formal process of replacing the forint with the euro as the country’s currency. The goal of Ms. Szelényi’s motion was to express that parliament is committed to adopting the euro and confirming that “the time had come to join the Eurozone.” Moreover, the motion called on the Minister of the National Economy to request an invitation to the meetings of Eurozone finance ministers.

Even if Fidesz MPs were willing to contemplate a motion that commits them to adopting the euro, the wording of Ms. Szelényi’s motion was unacceptable to government parliamentarians, as it included a thinly veiled criticism of the regime. The motion called for an economic plan that would also guarantee predictability and the rule of law, as well as the breaking up of monopolies that have close connections to the governing party. Moroever, the motion made reference to fighting corruption and a demand that priority of resources be given to improvements in the fields of public education and research.

Zsuzsanna Szelényi speaking in Budapest, where there has been increased talk recently about Hungary joining the Eurozone, including at a conference organized by Political Capital. 

All Fidesz-KDNP MPs present for the vote, except for János Pócs, voted against the motion. Jobbik MPs decided to abstain, while a majority of Socialists supported the motion. The only exceptions within MSZP were Tamás Harangozó, Zoltán Gőgös and László Szakács, all of whom voted against a commitment to the adoption of the euro. Most of the Politics Can Be Different (LMP) caucus was not present for the vote, while parliamentarians affiliated with the Democratic Coalition did not vote. (DK MPs have been boycotting much of parliament’s work.)

One of the arguments made by many pro-democracy opposition politicians, activists and thinkers is that joining the Eurozone would bolster anti-corruption initiatives and rule of law in Hungary. But this line of logic, which assumes that the ruling Fidesz party would have to turn away from its practice of state capture as a member of the Eurozone, seems to resemble the earlier belief that membership in the European Union would serve as a guarantee of democracy and rule of law in member states. We see how little the EU can or is willing to do about violations, once a country is already a member state. Trusting that things would be different if Hungary were to adopt the euro and that the government would be forced to chart a more transparent and democratic path seems overly hopeful.

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