Finance minister sees Czech Republic's eurozone entry in January 2012

Finance Minister Miroslav Kalousek has said he will press the government in August to set January 1, 2012 as the date for Czech adoption of the single European currency. Mr Kalousek said on Thursday that entry into the eurozone was a political decision and as such should have a fixed deadline. Mr Kalousek described the state of the Czech public deficit as "the only real practical barrier" to euro adoption in 2012. The Czech government in April approved far-reaching reforms slashing taxation and public spending, paving the way for a possible adoption of the single European currency as early as 2012.

Prime Minister Mirek Topolanek said last month that a euro adoption date could be fixed after the spending reform package is approved by parliament. The lower house is expected to discuss the package in June with the fate of the fragile centre-right coalition government, which does not have a guaranteed majority in the lower house, hanging on the outcome.