Hungary is unlikely to meet the targets required for joining the single currency by 2008.
On Tuesday (13 January), incoming Finance Minister Tibor Draskovics confirmed in a press conference that his country will run a budget deficit of 4.6 percent of GDP in 2004, according to reports in the Swedish newspaper Dagens Nyheter. But in order to join the euro, the budget deficit must be below 3 percent of GDP.
Mr Draskovics said Hungary intends to join the ERM-2 when it joins the Euro...
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Already a member? Login hereLisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.
Lisbeth founded EUobserver in 2000 and is responsible to the Board for effective strategic leadership, planning and performance. After graduating from the Danish School of Media and Journalism, she worked as a journalist, analyst, and editor for Danish media.