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Veres says EU likely to accept new euro adoption plan

The council of EU finance ministers, known as the Ecofin council, will discuss the commission's position about the plan at a meeting on Oct. 10, Veres said in parliament today. Hungary's government will approve the final draft of the Convergence Program, which outlines the country's path to euro adoption, at a two-day session starting tomorrow before submitting it to the commission on Sept. 1. „I see a good chance the program will be accepted,” Veres said at yesterday's meeting. Hungary will refrain from setting an official target date to adopt the EU's currency in the final version of its euro plan, Prime Minister Ferenc Gyurcsány said Aug. 22. Hungary last month abandoned plans to switch currencies in 2010 after admitting it will fail to trim the deficit enough to meet euro-entry rules. (Bloomberg)