Czechs needs more reforms before euro - c.banker

...Czech central bank (CNB) board member Pavel Rezabek said on Wednesday.

"Without meeting the nominal criteria, I am personally of the opinion that we should not lodge an application for (euro zone membership)," Rezabek told a seminar on euro adoption.

"If we are unable to fulfill the criterion for (public) deficit, it is difficult to set any date," he said of the government's and central bank's decision earlier this year to refrain from setting a formal target date for euro adoption.

He said deeper fiscal reforms, particularly of the pension system, were needed to cut the fiscal deficit in a sustainable manner and prepare for euro entry. The fiscal gap is seen at 3.6 pct of GDP this year, above the 3 percent euro entry test.

[PRAGUE/Reuters/Finance.cz]