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Economic news portal Portfolio reports that Varga stressed that meeting the Maastricht criteria alone would not guarantee success: businesses must also be prepared, wage growth must align with productivity, and economic policy must be coordinated around a clear strategy.
The governor said the MNB was preparing to gradually lower its inflation target while maintaining cautious, patient monetary policy. Hungary faces a more challenging environment than earlier euro entrants, with high debt, budget pressures, and weaker growth requiring tighter fiscal discipline.
Varga identified lower borrowing costs, the removal of exchange rate risk and deeper European integration as potential benefits, while warning of asset price bubbles and the loss of independent monetary policy.
He said credible progress toward membership could further reduce Hungarian bond yields.
Citing surveys, he noted that 80% of Hungarians supported adopting the euro, but only around 25% believed the country was ready.
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