The Czech Republic and the euro: Not now, or not ever?

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F49777513%3A23330%2F21%3A43963088" target="_blank" >RIV/49777513:23330/21:43963088 - isvavai.cz</a>

Result on the web

<a href="https://www.routledge.com/The-Political-Economy-of-the-Eurozone-in-Central-and-Eastern-Europe-Why/Arato-Koller-Pelle/p/book/9781032034676" target="_blank" >https://www.routledge.com/The-Political-Economy-of-the-Eurozone-in-Central-and-Eastern-Europe-Why/Arato-Koller-Pelle/p/book/9781032034676</a>

DOI - Digital Object Identifier

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Result language

angličtina

Original language name

The Czech Republic and the euro: Not now, or not ever?

Original language description

The Czech Republic, which joined the EU in 2004, did not negotiate any opt-outs and is therefore obliged to join the Eurozone as soon as the economic and political conditions so allow. Officially, the Czech Republic follows the National Plan for the Adoption of the Euro, which was approved by the Government of the Czech Republic in 2007. However, in practice, the country deliberately postpones the adoption of the common currency indefinitely. A significant majority of the political elites and the public oppose the euro and the government has not officially declared any adoption timetable. The main economic reason for postponing the entry is insufficient real economic convergence even though the Czech economy de facto met the Maastricht criteria on several occasions. But formally, the Czech Republic does not meet the entry criteria since it avoids joining the ERM II. The Czech position is thus unique in Central and Eastern Europe, both in terms of the low public support for the adoption of the euro and the strength of the underlying Czech Euroscepticism. This is further reinforced by the lukewarm debate on the impact of joining the Eurozone and by the distrust of many political parties towards the project. We argue that without a change in these factors, a shift to a greater support for the euro cannot be expected. Such situation creates a difficult conundrum for Czech European policy: on the one hand, there is an interest in belonging to the European core. On the other hand, this wish is significantly hampered by the non-participation in the euro area.

Czech name

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Czech description

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Type

C - Chapter in a specialist book

CEP classification

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OECD FORD branch

50601 - Political science

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2021

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Book/collection name

The Political Economy of the Eurozone in Central and Eastern Europe

ISBN

978-0-367-20277-4

Number of pages of the result

22

Pages from-to

216-237

Number of pages of the book

288

Publisher name

Routledge

Place of publication

Abingdon

UT code for WoS chapter

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