Greek drachma 5 drachmae) were issued from 1885, with the first 5-drachma notes being made by cutting 10-drachma notes in half. When Greece finally achieved its independence from the Ottoman Empire in 1828, the phoenix was introduced as the monetary unit; its use was short-lived, however, and in 1832 the phoenix was replaced by the drachma, adorned with the image of King Otto of Greece, who reigned as modern Greece's first king from 1832 to 1862. The drachma was divided into 100 lepta. In 2002 the drachma ceased to be legal tender after the euro, the monetary unit of the European Union,
Hungary and the euro announced their intention to keep the 2010 deficit at 3.8%. After more pressure, in September they also accepted a reduction of 3% in 2011. In 2010, Finance Minister György Matolcsy said they would discuss euro adoption in 2012. Mihály Varga, another member of the party, talked about possible euro adoption in 2014 or 2015. However, in February 2011, Prime Minister Viktor Orbán made clear that he does not expect the euro to be adopted in Hungary before 2020. Later, Matolcsy also confirmed this statement. Orbán said the country was not yet ready to adopt the currency and they would not