When will the Czech Republic be ready to adopt the euro, as it committed to when it joined the EU. Why do we not have the euro yet and what will be the impact of its adoption? Our intern Šárka Váchalová covered this topic in her blog.
"In order to adopt the euro, a country must meet the so-called convergence criteria, which include price stability (inflation rate), government indebtedness, interest rate stability and exchange rate stability, and the country should participate in a program that will help with the difficult transition for at least two years. Currently, the Czech Republic fails to meet most of these criteria due to high inflation, excessively high lending rates and exchange rate stability."
The whole blog is available under the PDF button.#euro #Czech Republic