2013-05-16 15:08

Czech Prime Minister in Vilnius: Czech Republic has no plans to rush into euro zone

The Czech Republic has no plans to rush into introducing the euro as the existing flexible koruna rate is beneficial for the country's economy, Czech Prime Minister Petr Nečas has said in Vilnius on Thursday.
Čekijos ministras pirmininkas Petras Nečasas
Czech Prime Minister Petr Nečas / Andriaus Ufarto/BFL nuotr.

Following a meeting with Lithuanian Prime Minister Algirdas Butkevičius, Nečas said that Prague had undertaken fiscal consolidation "for itself and not for the euro."

"The situation in the euro zone is changing rapidly, therefore, my government has intentionally and consciously not set a specific date for euro introduction," the Czech premier told journalists.

Contrary to the Lithuanian litas, the Czech koruna is not pegged to the euro. The Czech leader has said that a referendum on euro introduction might be held in the country.

The Government of Lithuania hopes to introduce the single currency in 2015.

The Thursday meeting of the prime ministers also touched upon the upcoming Lithuanian EU presidency. Prime Minister Butkevičius said he hoped that the visit would promote bilateral business ties.

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