Hungary might set new euro zone target
Tuesday, October 4, 2005, 12:16
The 2010 target for Hungary's eurozone accession has evidently failed and a new target must be set, said Viktor Orbán, head of the main opposition party Fidesz in the commercial television programme hírTV on Monday evening. Orbán said the 2010 target has failed together with the current government's economic policy. Orban's comments came after Prime Minister Ferenc Gyurcsány has repeatedly stated the government would reconsider the 2010 target date weighing benefits and drawbacks. The junior government coalition partner SZDSZ along with the smaller opposition party MDF said on Monday they favoured sticking to the 2010 target. Analysts' earlier doubts over Hungary's ability to meet the 2010 euro introduction target have strengthened after a sharp upward adjustment in the 2005 and 2006 general government deficit targets last week.