Jarai says delay ERM II if euro entry delayed

National Bank of Hungary president Zsigmond Jarai said Friday according to state news agency MTI that if Hungary delays adoption of the euro, it should also delay joining the Exchange Rate Mechanism II.

Jarai was reported as saying ERM II, a prerequisite to joining the euro, holds some risks which could be minimized if the government tightened its fiscal policies.

"Targeting price and exchange rate stability at the same time requires very strict fiscal policies and strong determination. To be h

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