Government approves Czech Republic’s accession EU fiscal pact

The Czech government on Wednesday approved the country’s accession to the EU fiscal pact. By signing the document, the country vows to abide by the pact’s budget restrictions. The decision still has to be ratified by the parliament and signed by president Miloš Zeman.

The intergovernmental Fiscal Stability Treaty was signed in March 2012 by all EU member states with the exception of the Czech Republic and the United Kingdom.