Central bank governor ready for euro adoption, but would advise waiting for crown to strengthen further

National Bank Governor Aleš Michl has indicated that the central bank is ready to move, if a decision is made to adopt the EU currency. As soon as the political leadership calls for it, the central bank will create the conditions for the adoption of the euro, Michl said in an interview for Czech Television. However he added that he would welcome some more time before this happens, since he would like the Czech Republic to have a stronger crown before joining the eurozone and to be closer to Germany in terms of wages. Inflation is now below 3 percent and on Thursday the central bank board cut the base interest rate to 4.75 percent.