Prouza: Euro adoption costs would equal to 0.5 pct of GDP

Costs of introducing the euro in the Czech Republic would reach some 0.5 percent of GDP and payments to the European Stability Mechanism would reach 34 billion crowns, the State Secretary for European Affairs Tomáš Prouza said at a conference on euro adoption on Friday. The state secretary stressed that the Czech Republic was economically prepared for the euro´s introduction and fulfilled euro-zone entry criteria much better than 11 years ago. A day earlier, the European Commissioner for the Euro and Social Dialogue Valdis Dombrovskis also said that the Czech Republic was prepared from an economic standpoint to adopt the euro, suggesting the country's entry to the euro zone was now mainly an issue of political will. One of the government´s priorities this year will be to intensify the public debate on euro adoption.

Author: Jan Velinger