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Hungary doing all it can to join eurozone

Hungary needs the euro and is doing all it can to join the single currency as soon as possible, the country's Prime Minister Gordon Bajnai said.

“I am convinced Hungary needs the euro,” Bajnai told a Euromoney conference, saying it would help stabilize and protect the country's economy.

“The government does everything it can to bring the euro close to us. It could take years but we want to have it as soon as possible.”

Bajnai recently estimated Hungary could join the euro within four years, a timeframe financial markets appear to agree with.

The country has missed several euro entry dates in the past and currently meets none of the criteria needed to adopt the single currency.

Estonia is tipped to be the next euro joiner. Economists see it becoming the currency's 17th member in 2011. (Reuters)