Hungary Could be Next Central and Eastern European Country to Join Euro
Dow Jones
Oct 08
1355 GMT - Hungary could be the next potential candidate in central and eastern Europe to adopt the euro, UniCredit's Eszter Gargyan says in a note. Hungary's new pro-EU government plans to meet the criteria for adopting the euro by 2030. Markets will be closely watching the government's medium-term fiscal plans as it has pledged to lower the deficit to enable euro adoption, she says. Romania is likely the next candidate after Hungary, she says. Euro adoption could reduce vulnerabilities related to Romania's twin deficits, although political instability could complicate necessary fiscal adjustments, she says. Political fragmentation and weak public support could hold back euro adoption in Poland while public support in the Czech Republic is also low.
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