MF: Government will not determine date for euro adoption

23. 12. 2017

The government of the Czech Republic has accepted a joint recommendation of the Ministry of Finance of the Czech Republic (MF) and the Czech National Bank to not determine a date for the adoption of the European single currency euro.

(CIANEWS, Dec 23) The government of the Czech Republic has accepted a joint recommendation of the Ministry of Finance of the Czech Republic (MF) and the Czech National Bank to not determine a date for the adoption of the European single currency euro. The unfinished process of a real economic convergence of the Czech Republic to the euro area including the different level of prices and wages was the main burden for the euro adoption process. The Czech Republic has not solved the problem of the public finances sustainability due to the aging population. The Czech economy still shows differences in its structure compared with the euro area. According to information provided by the Ministry of Finance of the Czech Republic (MF), the economic situation in the euro area is not stabilised even despite the current recovery.