Coins of the Hungarian forint a highly profitable venture that lasted until the machines were reprogrammed. The 50 Forint coin is confused with the UK 50 pence coin by some vending machines in the UK. According to Hungary's new constitution, effective as of 1 January 2012, the country's official name changes from "Magyar Köztársaság" (Republic of Hungary) to "Magyarország" (Hungary). Although Hungary is still a republic, this does not appear anymore on its coinage: from 2012 Hungarian legal tender will bear the country's new official name, "Magyarország". Previously struck coins will remain legal tender. 5, 10 and 20 Forint coins are expected to appear in
European Monetary Institute European Monetary Institute The European Monetary Institute (EMI) was the forerunner of the European Central Bank (ECB), operating between 1994 and 1997. The EMI was created 1 January 1994 to oversee the second stage in the creation of monetary union. The EMI itself took over from the earlier European Monetary Cooperation Fund (EMCF). The EMI met for the first time on 12 January under its first President, Alexandre Lamfalussy. On 1 July 1997 Lamfalussy was replaced by Wim Duisenberg who would then go on to serve as the ECB's President. The institute was dissolved on 1 June 1998 with the