Czech Republic to join Eurozone in 2010 or 2011 - Spidla

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The Czech Republic will need six to seven years after accession to the EU to get ready to join the single European currency. This according to the leader of the ruling Social Democratic Party and deputy prime minister, Vladimir Spidla. Spidla said on Sunday the introduction of the euro in the Czech Republic was expected to be smooth and would not require any special costs. This prediction of Mr. Spidla's has met with a great deal of criticism from members of the country's opposition parties. Opposition MPs, such as the former finance minister and member of the Freedom Union party, Ivan Pilip, said that it was not possible to make such estimates as one could not foretell the single currency's economic development. He said he expected the Czech Republic to be ready to join the Eurozone at least three years earlier than predicted by Mr. Spidla.