Finance minister: 2015 earliest date for euro adoption

The Czech finance minister, Eduard Janota, has designated the year 2015 as the earliest possible date for the adoption of the euro. Mr Janota told Czech TV on Sunday that the Czech Republic would first have to lower the deficit of public finances below 3 percent of the country’s GDP by 2013. That would involve adopting a number of cost-cutting measures as well as changing the structure of the state budget. According to estimates by the Finance Ministry, the state budget deficit should this year drop to 5.3 percent of the GDP; last year, it reached 6.6 percent of the gross domestic product.