Czech president warns against early adoption of euro

The Czech President Vaclav Klaus has warned against the dangers of adopting the euro too soon in an interview for Monday's edition of the Czech daily Mlada Fronta Dnes. Mr Klaus, a former liberal economist and has been labelled a eurosceptic, expressed concern about arrangements for adapting to use of the euro "and their disagreeable effects on the whole economy". The Czech Republic joined the European Union on May 1, but Mr Klaus said that Czechs would not be at a disadvantage if other new EU members adopted the euro first. He said he saw the bigger danger in adopting the euro too soon. According to President Klaus analyses show that those countries among the 15 old EU members that remained outside the euro zone have rather benefited.