Jarai says Hungarian forint vulnerable

"The forint is one of the most vulnerable currencies in the world," Hungary's central bank governor, Zsigmond Jarai said Wednesday 27 September at a conference hosted by the German-Hungarian chamber of commerce.

"Hungary has to offer a 3-5.5% interest premium to investors relative to other countries in the region - the price the country must pay for instability," Jarai added.

"The emphasis of the convergence plan should have been on reducing expenditure. Without social consensus, implementatio