Czechs may draw up new euro plan by spring -Min

21.02.2007 | , Reuters
Zpravodajství ČTK


perex-img Zdroj: Finance.cz

The Czech government could draw up a new euro convergence plan to present to the European Commission by the spring, a senior official was quoted...

...on Wednesday as saying.

The daily Pravo quoted Deputy Prime Minister Alexandr Vondra as saying the government would then use this plan as an outline for adopting the single currency in 2012-2013.

He gave no further details and a government spokesman was not immediately available for comment. However, the statement is in line with comments made by Finance Minister Miroslav Kalousek earlier this month.

The central European country has dropped 2010 as the entry date after elections last year, due to deepening fiscal deficits which stop it from meeting euro adoption criteria.

The centre-right government has had a more cautious approach to euro entry than the previous Social Democrat administration, and has so far not given any firm entry dates.

The government aims to slash its budget deficit to 2.3 percent of gross domestic product in 2010 from about 4 percent expected this year, mainly through cutting social spending and rationalising healthcare.

The euro entry ceiling is a deficit of 3 percent of GDP.

[PRAGUE/Reuters/Finance.cz]

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