Hungary's Jarai: euro accession by 2008 difficult

President of the National Bank of Hungary Zsigmond Jarai said on Monday 23 February that considerable sacrifices will need to be made if Hungary is to join the eurozone in 2008.

"Theoretically, it is still possible to meet the criteria necessary for the introduction of the euro in 2008," Zsigmond Jarai, president of Hungary's central bank MNB said Monday. However, "this will only be possible by making considerable macroeconomic sacrifices," he stressed.

Jarai said the extent of required sacrifi

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