Agency: Czech may adopt euro in 2012 |
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Wed, 21 Feb 2007 16:56
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PRAGUE, Czech Republic (AP) - The Czech Finance Ministry said Wednesday it has approved a plan that could set the country on the path toward adopting the common European Union currency in 2012.The Czech government is to discuss the plan in March, the ministry said in a statement, adding that the plan was adopted in cooperation with the Czech National Bank.'The Finance Ministry considers realistic for the Czech Republic to adopt the euro in 2012,' the statement said.Last year, the government postponed switching to the euro from 2010 to an unspecified date because the country was not likely to meet EU criteria for adopting the currency on time, including maintaining a budget deficit below 3 percent of gross domestic product.The 2007 budget foresees a deficit around 4 percent of GDP, after the country's previous government of Social Democratic Prime Minister Jiri Paroubek pushed through increases in welfare spending.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Poland could adopt euro by 2012-2013 - central bank chief 