The Czech Republic’s Progress on its Road to the Euro Area
AbstractAccording to documents of the Government of the Czech Republic and the Czech National Bank, the obligation to join the euro area should be met “as soon as possible”. However, the original date of 1 January 2010 has been cancelled, without setting a new date, even though the Czech Republic will comply with all Maastricht convergence criteria in the forthcoming years. The degree of real convergence is also sufficient, including adjustment mechanisms against asymmetric shocks. The state of organisational and legislative preparations for the introduction of the euro is also well under way. Thus the postponement of the adoption of the euro has become a political rather than economic issue.
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Bibliographic InfoArticle provided by University of Finance and Administration in its journal ACTA VSFS.
Volume (Year): 3 (2009)
Issue (Month): 1 ()
euro; euro area enlargement; nominal convergence; real convergence; asymmetric shocks; alignment of business cycles;
Find related papers by JEL classification:
- E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
- F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration
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