Christian Democrats want euro-adoption timetable by May

The Christian Democrats of the ruling coalition want the government to set a timetable for euro adoption by the end of May at the latest. Czech exporters have long been pushing for the move but so far the government has been reluctant to make a commitment. Prime Minister Topolánek says the time is not yet ripe for such a commitment in view of the global financial crisis, the need to complete economic reforms and stabilize the country’s public finances. Last year Finance Minister Miroslav Kalousek of the Christian Democrats proposed that the euro be adopted in 2012, but the government later backpedaled on the proposed date. The opposition Social Democrats say 2012 seems like a realistic target. Slovakia, the Czech Republic’s eastern neighbour, will adopt the euro as of January 1, 2009.