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Simor Says Hungary Must Speed Up Euro Integration

Hungarian central bank President Andras Simor said the country must accelerate its integration into the euro area.

Hungary doesn’t have a target date for the switchover after a lack of fiscal rigor forced the country to abandon several self-imposed goals since joining the European Union in 2004. The government last month committed to bring the budget shortfall to within the 27-nation bloc’s limit of 3 percent of output next year.