The Czech Republic faces another political controversy. It concerns the future adoption of the euro. The crisis in the government led by Petr Fiala from ODS is related to the different positions of the ministers on this matter – explains the Czech economic daily “Hospodarske Noviny”.
In May, the prime minister argued that, taking into account the current economic situation, the introduction of the euro in the Czech Republic was not a topic that could be discussed at the current time. He insisted that his country did not meet the so-called Maastricht criteria, which are a condition for joining the Eurozone. These include, among others: achieving price stability and public fiscal sustainability.
However, an annual report published in the fall refutes this argument. Ministry of Finance Presented a report prepared in association with the Central Bank Assesses the Czech Republic’s level of economic adjustment to the Eurozone positively and readiness of the country to adopt a common currency.
The Czech Republic is ready, but the government is not
The assessment was favorable for the introduction of the euro in the Czech Republic, but political will remains an obstacle. The main ODS party is against joining the eurozone, while others are against it, but the remaining four of the five coalition parties support the adoption of the euro.
Zbyňek Stanjura, head of the Finance Ministry and a member of the ODS, wants the entire government to agree that it will not take any steps towards the eurozone next year.
This caused a great uproar among the remaining coalition parties. Ministers of TOP 09, STAN, Piracy and KDU-ČSL objected and did not give Stanjur the green light to take these measures, explains “Hospodarske Novyni”.
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