Hungary in no Rush to Join Euro Zone, Minister Says

Business » FINANCE | March 24, 2018, Saturday // 15:18| Views: | Comments: 0
Bulgaria: Hungary in no Rush to Join Euro Zone, Minister Says

Hungary is in no rush to join the euro zone and should adopt the single currency only if its economic output approaches the average of the euro area or Germany, Economy Minister Mihaly Varga was quoted as saying in an interview on Saturday, cited by Reuters.

“Like the Czechs or the Poles, we will not enter the waiting room for the euro, which is a requirement to fix the exchange rate two years before adoption (of the euro),” Varga was quoted as telling the daily Magyar Hirlap.

“This is a favorable position and it is up to us when we decide to take the next step,” Varga said, adding Hungary should also wait for the outcome of debates on deepening integration between members of the single currency bloc.

Hungary’s central bank has also said Hungary should not join the euro before its economy is sufficiently strong.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Finance » Be a reporter: Write and send your article
Tags: Hungary, euro, no rush, euro zone
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria