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Hungary and the Eurozone – A Complexity View

On 20-22 June 2019, the Council for European Studies at the Columbia University (New York) organised its 26th annual International Conference of Europeanists in Madrid at Universidad Carlos III de Madrid. This year, the event devoted special attention to the issue of Sovereignties in Contention: Nations, Regions and Citizens in Europe.

The conference offered a session for presenting the chapters (both the horizontal ones and the country case studies) of a forthcoming book entitled ‘Why In –Why Out? The Political Economy of the Eurozone in East Central Europe. In that session, Olivér Kovács described the complex relations between Hungary and the Eurozone by stressing that in order to better understand the Hungarian runaway with nationalism, it is essential to take into account the world stream and that of the global runaway phenomena that have been affecting heavily the Hungarian path as well. Kovács emphasised that Hungary is not a game changer by its own, but its path reflects to a large extent the global runaway phenomena (Economics departing from reality by feeding into unorthodoxy; runaway of critical instabilities during the era of Great Moderation). Hungary’s Eurozone accession, although economically and socially feasible, still requires further consolidation of internal political engagement.

Client:Council for European Studies
Date: June 30, 2019