Hongaarse minister van financiën: invoering euro niet voor 2011 (en)

The Hungarian finance minister has said his country is unlikely to adopt the euro before 2011.

"The current programme would make possible the adoption of the euro in 2011 at the earliest," Janos Veres told public television, according to AFP.

His comments came a day after the government submitted new plans for joining the euro after Brussels in January rejected previous plans as not being credible.

Government overspending resulting in the country having the highest public deficit in the EU has meant Budapest has in past years missed its targets for joining the euro.

The Financial Times suggests analysts believe Hungary will not be able to adopt the common currency before 2014.