Euro warning: Economist praises UK’s lucky escape from adopting chaotic currency

“Without a currency of its own and without the possibility of devaluation, the crisis for the United Kingdom would have been much worse.

“In that sense, it was certainly good that the country was not in the euro.”

Georgy Matolcsy, Governor of the Hungarian Central Bank, last month described the Eurozone as a “trap” and a “fruitless dream” and claiming that member states were more prosperous before joining.

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