Zavedení Eura v České republice

April 2008: The Government of the Czech Republic approves the Report on Fulfilment of the National Plan

The document sets out the work plan for 2008 and lists new tasks for the near future. Emphasis is placed on the principle that there are a number of activities related to the future changeover to the euro in the Czech Republic that can be, and are practical to, carry out in advance without knowing a binding term for the Czech economy joining the Eurozone. Such activities are for the most part of a methodological nature, whose validity is permanent.

August 2007: The Government of the Czech Republic adopts the Czech Republic’s Updated Euro-area Accession Strategy

This document summarises the reasons why the original unofficial term for implementing the euro in the Czech Republic of 2009-2010 was abandoned. Both the arguments in favour of adopting the joint European currency and the factors reducing the possible benefits of adopting the euro are mentioned. Thedocument does not stipulate a new term for adopting the euro; instead, it states that the date is dependent upon resolving problematic areas through reforming government budgets and strengthening the flexibility of the Czech economy.

April 2007: The Government of the Czech Republic adopts National Euro Changeover Plan

The Government-approved National Euro Changeover Plan for the Czech Republic contains basic information about the process leading to adoption of the euro: the single-step transition to the euro, the timing, and major issues related to adopting the euro in the particular areas of the Czech economy with which each of the working groups of the National Coordination Group are concerned. The basic principles that the euro implementation process must adhere to have been formulated.

October 2006: The Government of the Czech Republic chooses the euro adoption scenario

Of three possible scenarios, the Czech Republic opted for the so-called Big Bang scenario, i.e., simultaneous changeover for cash and non-cash transactions. One of the arguments supporting this option was practical experience with the currency split of the Czech and Slovak crown in 1993.

November 2005: The Government of the Czech Republic decides on the institutional framework for technical preparations for adoption of the euro

Based on a resolution of the Government, the National Coordination Group for the Euro Adoption in the Czech Republic was established.  Also established was the position of Chief Coordinator for the Euro Adoption in the Czech Republic. The Chief Coordinator presides the National Coordination Group, monitors the Coordination Group’s activities, and communicates actively with the public about the issues surrounding the euro.

May 2004: The Czech Republic becomes a member of the European Union

One of the obligations stemming from the Czech Republic’s membership in the European Union is adoption of the common European currency. The economic and monetary policies aimed at fulfilment of the Maastricht convergence criteria are closely tied to this obligation.

October 2003: The Government of the Czech Republic adopts the Euro Changeover Strategy, with an indicative implementation period of 2009-2010.

The preparations for the Czech Republic’s accession to the European Union, which were successfully underway, gave the impetus for deliberations over the date of implementation of the euro. For this reason, the Ministry of Finance and the Czech National Bank drafted a joint document summarising the benefits and risks of the Czech economy acceding to the common European currency. The document The Czech Republic’s Euro-area Accession Strategy indicated that upon successful fiscal consolidation, the period 2009-2010 could be deemed a possible term for implementing the euro.