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The Czech Republic may transition to the euro currency

The Czech Republic may transition to the euro currency

If the Czech Republic aims to be among the leading nations in Europe, it must adopt the euro currency, stated President Petr Pavel during a conference in Prague on Tuesday, commemorating the 20th anniversary of the Czech Republic's entry into the EU.

"If we want to play in the first league (of Europe), it logically brings up the question of adopting the euro. The experience of countries that already use it confirms that the only ones dissatisfied are those who do not have it," Pavel said.

Previously, the president mentioned the transition to the euro during his New Year's address to the nation, sparking heated debates at various levels. These two speeches by Pavel differ in that the New Year's address proposed a national discussion on adopting the euro, while this time he directly called for the adoption of the euro currency.

The Czech government has yet to formulate a clear stance on transitioning to the euro. For now, it has instructed its Economic Council to develop an analysis of the pros and cons of the country entering the Exchange Rate Mechanism (ERM) or adopting the euro.

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