State secretary for EU says Czech Republic is economically ready to adopt the euro

The expenditures linked to the adoption of the euro in the Czech Republic would amount to 0.5 percent of the GDP, State Secretary for European Affairs Tomáš Prouza said at a press briefing in Prague on Friday. The country’s contribution to the European Stability Mechanism would be 34 billion crowns, the state secretary said. According to Mr. Prouza the Czech Republic has made significant progress in fulfilling the criteria for euro adoption and is now economically ready to join the Eurozone. He said it is one of the government’s priorities to launch a broad public debate on euro adoption in order for people to be better informed about the advantages joining the Eurozone.