Hungary was supposed to join the eurozone
Hungary was supposed to join the eurozone in 2010, which would have resulted in the MNB losing control of monetary policy, but central bank leaders criticized this plan, saying that the fiscal austerity requirements would slow growth.In December 2011 two of the three major credit rating agencies downgraded Hungarian debt to "junk status", due in part to changes to the Constitution of Hungary, creating doubts about the independence of the central bank.
