EU officials give convergence program positive assessment

Economic officials of the European Parliament have given a positive response to Hungary's euro convergence plan, MEP Szabolcs Fazekas of the Socialist parliamentary group told MTI on Tuesday, after consulting members of the economic committee on the sidelines of plenary sessions. Fazekas quoted Chairman of the EP's Economic and Finance Committee Pervenche Beres as saying that she and her colleagues had welcomed the fact that Hungary had come out with a reliable convergence plan based on credible figures and a strict economic program. Fazekas said there were no objections to the fact that the euro plan does not contain a specific target date for Hungary to adopt the euro. The program has already received positive assessments by Luxembourg's Prime Minister Jean-Claude Juncker, who heads of the club of eurozone finance ministers, and ECB governor Jean-Claude Trichet. Juncker said "the key measures, the path and the directions" of the program are positive. Trichet said at a meeting with former Hungarian prime minister Péter Medgyessy, acting as an ambassador at large, that he welcomed the agreement between the government, the central bank, the Convergence Council and the State Audit Office on the assessment of Hungary's situation and a short-term programme to put the country on the right track. The European Commission is expected to give an official response to the euro plan by late September or early October. (Econews)