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Orbán says Hungary euro adoption unlikely before 2020

Prime Minister Viktor Orbán on Saturday said Hungary is unlikely to join the Eurozone before 2020 because of "the way things stand at the moment". Speaking at a press conference in Budapest, Orbán said the terms non-members have to meet to adopt the common European currency will radically shift toward a common EU fiscal policy. But Orbán said Hungary will oppose efforts within the European Union to harmonize the corporate-tax base as it would erode Hungary's competitive advantage. Responding to questions about Hungary's monetary policy, Orbán said the government and the new rate-setting Monetary Council will need to find an efficient way to cooperate in the next two to three months because the current monetary policy hurts the economy. Orbán urged a debate on the tools and goals of monetary policy and denied reports that the government wanted to raise the central bank’s 3% inflation target.

Napi Gazdaság: Orbán: Hungarian euro unlikely before 2020 (Hun)
Mfor: Orbán says Hungarian euro unlikely for another 10 years (Hun)
Privátbankár: Euro adoption looks distant (Hun)
Index: Orbán: No euro before 2020 (Hun)
Portfolio: Orbán: Surányi-Simor debate reopens, no euro before 2020 (Hun)