Hungary’s euro accession theoretically possible in 2011, says Economy Minister
The introduction of the euro will be theoretically possible in Hungary in 2011, but for the time being, it would be too risky to set this new target date, the German daily Frankfurter Allgemeine Zeitung on Friday quoted Hungarian Economy Minister János Kóka as saying. If Hungary fulfils the Maastricht criteria by 2009, as planned in coordination with the European Commission, then the introduction of the euro is theoretically possible in 2011, Kóka said. However, setting a new target date would be too risky and the primary target now is to regain investors' confidence, Kóka added. The European Commission earlier this week approved Hungary's convergence plan and postponed the deadline for Budapest to cut its deficit to about 3% of GDP to the end of 2009. (Mti)
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.