Hungary's Jarai calls for new euro plan

A new convergence program is needed for Hungary to be ready to join the eurozone in 2011, Hungary's central bank Governor Zsigmond Jarai said on Thursday 16 November.

"I believe that this (current) convergence program will not lead us to the euro," DowJones quoted Jarai as addressing a conference, in Frankfurt.

According to the newswire, he said the central bank is "very skeptical" of any plan for Hungary to meet the convergence criteria in 2011, adding it is "really difficult" to say the curre

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