The Czech Republic’s Progress on its Road to the Euro Area
According 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.
Volume (Year): 3 (2009)
Issue (Month): 1 ()
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