EC: Czech Republic meets two out of four Euro adoption criteria

The Czech Republic currently meets two out of four conditions for joining the euro zone, according to the European Commission’s Convergence Report reviewing member states’ progress towards euro adoption released on Wednesday.

The report concludes that the Czech Republic fulfils the criteria on public finances and long-term interest rate but doesn’t meet the price stability and the exchange rate criteria.

Along with the Czech Republic, the report covers another six EU member states that are legally committed to adopting the euro, which include Bulgaria, Croatia, Hungary, Poland, Romania and Sweden. The single European currency is currently used by 19 EU member states.