Hungary to adopt euro in 2010, Veres says
Tuesday, June 14, 2005, 08:06
Hungary is planning to adopt the euro by 2010, despite
recent uncertainty about the long-term prospects of the single
currency, Finance Minister Janos Veres said to Financial Times.
While the European Union's constitutional crisis and the
slow economic growth of the 12-nation bloc have spoiled the value of euro, Mr Veres said he did not foresee a wider crisis for the single currency and Hungary had no option but to stick to the original plan and aim to join the eurozone in 2010. The Hungarian forint is not the Swiss franc, it cannot be maintained independently for decades Veres said.
Among the eight central European countries which joined the EU
last year, Hungary is considered one of the farthest from the
eurozone's rules concerning deficits, inflation, interest rates and debt
which must be met two years before a state can join the single