The Czech government’s policy statement did not contain a promise to consider introducing a single European currency during the current parliamentary term. This was stated by the Prime Minister of the Republic Petr Fiala.
“The Czech Republic currently does not even meet the necessary criteria for the introduction of the euro,” he said following a cabinet meeting.
According to him, the government is focused above all on restoring the sustainability of public finances, which the prime minister called a necessary condition for debate on the timing of the introduction of the euro in the Czech Republic to take place at all. At the same time, Fiala noted that in recent years the republic has not met the criteria for joining the eurozone. In particular, Prague plans to meet the public finance criterion only in 2024, the deficit of which should not exceed 3% of GDP. In addition, the country has also failed to meet inflation and interest rate benchmarks in recent years.
In turn, the Minister for European Affairs Martin Dvorak indicated that he was surprised by the statement of Prime Minister Petr Fiala regarding the debate on the introduction of the euro. According to him, the government’s announcement shows efforts to comply with the so-called Maastricht criteria for the introduction of the euro.
Let us remind you that in his New Year’s speech, Czech President Petr Pavel called on the republic to take concrete steps towards the transition to the euro. At the same time, the country’s attitude towards the single European currency is ambiguous. Many politicians and public figures openly oppose it, as they believe that the introduction of the euro will undermine the national budget and cause a protracted economic crisis.
2024-01-04 11:55:00
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