{"id":41390,"date":"2023-01-13T16:19:09","date_gmt":"2023-01-13T13:19:09","guid":{"rendered":"https:\/\/f-chain.com\/?p=3845"},"modified":"2023-01-13T16:19:09","modified_gmt":"2023-01-13T13:19:09","slug":"the-finance-ministry-and-czech-national-bank-said-the-country-will-not-meet-the-required-targets-in-the-near-future-az","status":"publish","type":"post","link":"https:\/\/az.f-chain.com\/az\/the-finance-ministry-and-czech-national-bank-said-the-country-will-not-meet-the-required-targets-in-the-near-future-az\/","title":{"rendered":"The Finance Ministry and Czech National Bank said the country will not meet the required targets in the near future."},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]The Czech government should not yet set a date for adopting the euro, according to a document submitted to the cabinet by the Finance Ministry and the Czech National Bank (\u010cNB). The Czech Republic will not meet any of the Maastricht criteria for joining the eurozone this year or next.<\/p>\n<p>When the Czech Republic joined the European Union in 2004, one of the conditions was that it would adopt the euro. No firm deadline was set at that time, and there is no penalty for delays. It is up to each country to decide when it will join, and then embark on the process of meeting the euro convergence criteria, known as the Maastricht criteria.<\/p>\n<p>&#8220;Although the specific date of entry is entirely up to each member state, it should ideally be based on its level of readiness.<\/p>\n<p>In the material for the government, the Finance Ministry and the \u010cNB recommend that, given the current failure to meet the criteria, the Czech Republic should not set a deadline for the introduction of the euro and also not seek to join ERM II for the time being.<\/p>\n<p>The government\u2019s program statement does not make a commitment to set a deadline for adopting the euro by the end of its term in 2025. However, the document commits the cabinet to meeting the Maastricht criteria as soon as possible.<\/p>\n<p>The issue has divided politicians and experts. The TOP 09 party, which is part of the government coalition, in July\u00a0urged adopting the euro\u00a0as soon as possible to boost the economy. Michal Sko\u0159epa, an economic analyst at \u010cesk\u00e1 spo\u0159itelna, in June said that the Czech Republic\u2019s<a href=\"https:\/\/www.expats.cz\/czech-news\/article\/amid-an-economic-crunch-would-czechia-fare-better-in-the-eurozone\">\u00a0independence from the eurozone<\/a>\u00a0may be a bonus in retaining foreign investor confidence.<\/p>\n<p>An analysis in 2021 by the \u010cNB pointed out the\u00a0pros and cons\u00a0of euro adoption for the Czech Republic. It said a big benefit would come from the country\u2019s strong trade links with other EU countries. Risks include the economic differences between the Czech Republic and the EU as a whole such as the unusually high proportion of industry in Czech national GDP.<\/p>\n<p>&nbsp;<\/p>\n<p><strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_single_image image=&#8221;3847&#8243; img_size=&#8221;full&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]The Czech government should not yet set a date for adopting the euro, according to a document submitted to the cabinet by the Finance Ministry and the Czech National Bank (\u010cNB). The Czech Republic will not meet any of the Maastricht criteria for joining the eurozone this year or next. When the Czech Republic<\/p>\n","protected":false},"author":1,"featured_media":45390,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20,21],"tags":[],"class_list":["post-41390","post","type-post","status-publish","format-standard","hentry","category-feautured-post-ru","category-news-ribbon-ru"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Finance Ministry and Czech National Bank said the country will not meet the required targets in the near future. - FChain<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/az.f-chain.com\/az\/the-finance-ministry-and-czech-national-bank-said-the-country-will-not-meet-the-required-targets-in-the-near-future-az\/\" \/>\n<meta property=\"og:locale\" content=\"az_AZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Finance Ministry and Czech National Bank said the country will not meet the required targets in the near future. - FChain\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]The Czech government should not yet set a date for adopting the euro, according to a document submitted to the cabinet by the Finance Ministry and the Czech National Bank (\u010cNB). The Czech Republic will not meet any of the Maastricht criteria for joining the eurozone this year or next. 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