PM Nečas: Czechs will adopt euro in eight or ten years

The Czech Republic will adopt the euro no earlier than in some eight to ten years’ time, Prime Minister Petr Nečas told the lower house of Parliament on Wednesday during a debate on the new rescue package for the eurozone. Arguing that a Czech approval with the plan will not automatically bring additional costs, Mr Nečas said that future governments will have to discuss such guarantees at a time when they decide to join the eurozone. The Czech Republic is technically bound to join the eurozone by its 2004 accession treaty to the EU. However, no official date for joining the common currency zone has been set yet.

Author: Jan Richter