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Convergence program does not contain target date for euro adoption

Parliament

Hungary's new euro convergence program, to be submitted to Brussels by September 1, does not contain a target date for euro adoption, Prime Minister Ferenc Gyurcsány said on Friday. 

The program is not about euro adoption but about bringing the budget to a state where euro adoption becomes possible, Gyurcsány told the parliamentary group of the Hungarian Socialist Party (MSzP).
According to press reports, Gyurcsány named three possible dates for meeting Maastricht criteria: 2008, 2009 and 2010, which would mean Hungary could adopt the euro in 2010, 2011 or 2012, respectively.

 

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