Járai sees no chance of 2010 euro zone entry
Sunday, September 18, 2005, 00:00
Central bank president Zsigmond Járai said on Monday that Hungary would not be able to join the euro zone in 2010, as a step like that would require profound reforms for which the National Bank of Hungary (MNB) sees no chance. According to the MNB president, Hungary's failure to adopt the euro has nothing to do with the problem indicated by Eurostat in connection with the accounting of motorway construction costs. "While a few months ago there was still some hope for meeting the euro zone entry criteria by 2008, Hungary failed to make some necessary moves, preventing it from keeping the original deadline," Járai said. In his view, the next deadline could be set by the government after the 2006 elections.