Hungary Central Bank Chief Signals Caution on Magyar’s Euro Plan

Hungary’s central bank governor urged caution on the new government’s plan to adopt the euro, saying that a rushed process could lead to unintended negative consequences for the economy.

Peter Magyar, who won a parliamentary election in a landslide two weeks ago, has pledged to bring his country back to the European fold including by eventually adopting the euro. He said the timeline for the currency switch should become clearer after the new government reviews the state of the economy it inherited after 16 years of Prime Minister Viktor Orban’s rule.