Czech Republic
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14230%2F19%3A00112118" target="_blank" >RIV/00216224:14230/19:00112118 - isvavai.cz</a>
Result on the web
<a href="http://library.fes.de/pdf-files/bueros/sofia/15666.pdf" target="_blank" >http://library.fes.de/pdf-files/bueros/sofia/15666.pdf</a>
DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
Czech Republic
Original language description
The chapter analyses the relationship between the Czech Republic and the Euro. The Czech Republic promised to join the Eurozone upon its entry to the EU in 2004. The Czech economy has already met the Maastricht criteria on several occasions. However, there is still no definite date set for Euro adoption. The majority of the Czech public oppose the common currency, and this is reflected in the attitudes of Czech politicians. The Czech development strategy has so far rested on two main pillars – an undervalued currency and disproportionately low labor costs. Adopting the Euro means that the exchange rate channel for convergence would be abandoned and convergence would have to be facilitated by other means. There are few effects related to entry to the Eurozone that can be determined with any level of accuracy, and these are not very significant. On the other hand, there are some quite uncertain but potentially very significant consequences. Among the expected effects are lower transaction costs, higher wages, higher outflow of labor and higher inflation, all of which could generate serious economic imbalances. However, not joining the Eurozone would mean free riding on the system, with potentially very detrimental effects on the national interest of the Czech Republic.
Czech name
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Czech description
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Classification
Type
C - Chapter in a specialist book
CEP classification
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OECD FORD branch
50601 - Political science
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Book/collection name
In or out? : The Politics of Euro Accession for Eastern European Member States
ISBN
9789542979517
Number of pages of the result
10
Pages from-to
41-50
Number of pages of the book
80
Publisher name
Friedrich Ebert Foundation
Place of publication
Sofia
UT code for WoS chapter
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