President Klaus says Eurozone failed

Czech President Václav Klaus told the Czech weekly Euro on Thursday that the Eurozone project had failed. The single European currency did not bring the desired effect by failing to accelerate economic growth. Mr Klaus said a lack of homogeneity in the Eurozone became obvious with the onset of the economic crisis. However, the Czech head of state said he believed that the Eurozone will continue to exist at extremely high costs for all its member states and other EU countries. The Czech Republic should not hurry with the adoption of the euro, Václav Klaus added.