Hungary could join euro by 2020, econ minister tells daily

[BUDAPEST] Hungary meets all of the accession criteria to the euro zone and joining the bloc is plausible at the end of the decade if the country continues to improve its economy, Economy Minister Mihaly Varga told the daily Magyar Hirlap on Tuesday.

Hungary's inflation, debt and exchange rate stability metrics all satisfy the euro zone's criteria, and banks are sufficiently capitalised, Mr Varga said. But before Budapest joins the bloc it will need to work out its own kinks, he added.

The euro must be more stable and backed by a common fiscal policy, he said. Hungary, the Czech Republic and Poland all satisfy the economic criteria to join the bloc and are in ongoing talks about that strategy, he added.

REUTERS