Economy must operate independently of monetary policy, Simor says
Hungary needs to achieve other factors in addition to the Maastricht criteria for adopting the euro, factors that allow the economy sufficient flexibility to operate independently of monetary policy, National Bank of Hungary governor András Simor said at a conference in Vienna on Wednesday.
Joining the eurozone has not become less attractive for European Union members who have still not adopted the common currency, but it has become more complicated, Simor said. Given Hungary's degree of economic integration, it makes sense for the country to join the eurozone, he added.
Nobody ought to be advising countries outside of the eurozone to rush to adopt the single currency, he said.
Hungary needs "buffers" in its fiscal policy and on its labor market, both in the production and services sectors, he added.
ADVERTISEMENT
MNB Stresses Importance of 'Conservative' Dividend Policy to...
Poland Jobless Rate Unchanged in October
DHL Supply Chain Relocates Domestic Operation to Páty
More Guest Nights y.o.y. for Year-end
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
