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Twenty years after joining the European Union, the Czech Republic still uses its national currency, the krona, instead of the euro. However, it has been announced that it is ready to discuss details about the possibility of the country switching to the EU monetary unit.
Czech Prime Minister Peter Fiala said on Twitter that the Czech Republic plans to prepare an assessment of legislative issues to enable the country to enter the pre-euro exchange rate mechanism, known as ERM-2, by October 2024.
The remarks come as four of the five ruling parties still support eurozone membership, while the coalition's dominant Civic Democratic Party of Fiala opposes the move. The party demanded** that no transformation measures be taken during the expiration of the term in 2025.
The Czech Republic had promised to introduce a single currency when it joined the European Union in 2004, but according to a recent survey,63% of the populationOppose the move.
With the exception of the Czech Republic, the other six EU member states continue to use their national currencies instead of the euro:Bulgaria. Finance Minister Rossitsa Velkova said last year that the country had abandoned its target of adopting the euro in January 2024 because it failed to meet the so-called Maastricht euro inflation access criteria and did not make some necessary legal changes; Denmark. In 2000, Denmark** held a referendum on whether to introduce the euro, 532% of voters said "no," 468% of voters supported; Hungary. The country had planned to adopt the euro as its official currency by the end of 2009, but abandoned this goal due to high budget deficits, inflation and public debt that did not meet Maastricht criteria; Poland. The country does not meet the Maastricht criteria related to exchange rate stability and long-term interest rates. In addition, Polish law is not fully compatible with EU treaties; Romanian. The European Commission earlier concluded that the country's legislation is not fully in line with eurozone rules and that the country has violated all the criteria required for the adoption of the euro. Romania has problems with inflation, public fiscal stability, exchange rate standards, convergence of long-term interest rates, etc.; Sweden. Back in the referendum in September 2003, there were 559% voted against joining the eurozone. Meanwhile, Eurostat said in a statement last month that annual inflation in the 20 countries of the eurozone rose in December from 24% toIn December, food, alcohol and tobacco were the largest contributors to inflation in the eurozone, followed by services, non-energy industrial goods and energy. The highest annual inflation rate is in Slovakia at 6., the statement said6%, with the lowest being Belgium and Italy at 05%