Hungary cannot seriously consider joining the Eurozone until the country’s average economic development reaches 90% of the level of euro states, Prime Minister Orbán stated. Once the country’s economy has reached that level, it will be able to take the “next step”, he told a press conference after a cabinet meeting held in Kémes, Southern Hungary.

Until that time, Hungary must focus on strengthening its own economy, he added. “Hungary is aware that we live in Europe and we are part of the European market. At the same time, we have our own currency and our own national economy, but we cannot isolate ourselves from what is happening around us,” the Prime Minister emphasised.

At the same time, he added, speculators rule over a substantial part of the European economy and Hungary is also threatened by this phenomenon. He said there had been a recent speculator attack against the forint, though this had been successfully handled within a short period of time. The government is preparing against speculation by operating a stable economy and pursuing a stable financial policy, he pointed out.

(Prime Minister’s Office)