Hungary¡¯s new leader has made adopting the euro one of his top priorities, a step that would mark the largest expansion of the single-currency bloc since Greece joined in 2001.
But while Peter Magyar¡¯s landslide election win on April 12 gave him a mandate to dismantle his predecessor¡¯s self-styled illiberal system, it will be a while before the country can start reaping the full benefits of joining the euro club.
The process typically takes several years as aspirants work to meet requirements centered around keeping public finances and inflation under control. And the legacy of outgoing Prime Minister Viktor Orban¡¯s 16-year rule is a sluggish rate of economic growth that makes it harder to rein in Hungary¡¯s budget deficit.
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