Czech FinMin gives up 2012 euro entry date - paper

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The report is in line with comments by Finance Minister Miroslav Kalousek, who told Reuters last week he was in a minority in the cabinet with his plan, and that he may give it up.

Ministry officials were not immediately available for comment.

Prime Minister Mirek Topolanek has long been opposed to setting a euro entry date, and he has won the backing of the central bank which has also recommended the cabinet should not set any target at this point.

The Czechs have been forced to abandon their previous target of 2010 due to yawning public deficits.

Kalousek had been eager to set a target date in order to focus policymakers on pushing through economic reform fast and make the country fit for the euro in 2012, regardless if the date is then observed or not.

The cabinet is expected to discuss a euro adoption plan in the coming weeks, and the final draft does not include the date, Euro said.

[PRAGUE/Reuters/Finance.cz]