Klaus: disadvantages of euro outweigh advantages

President Vaclav Klaus - speaking during an official visit to Sweden - has said the disadvantages of the euro outweigh the advantages. In a speech to the Swedish Parliament, President Klaus said the euro was created purely for political reasons and not economic necessity. Mr Klaus also said that in his opinion the results of deeper European integration had fallen well below expectations. The Czech government says it wants the country to adopt the single European currency by the end of the decade. Sweden is one of three European Union countries not to have adopted the euro.

Author: Rob Cameron