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The Czech Republic’s Progress on its Road to the Euro Area

Author

Listed:
  • Mojmir Helisek

    (Institute of Finance and Administration)

Abstract

According to documents of the Government of the Czech Republic and the Czech National Bank, the obligation to join the euro area should be met “as soon as possible”. However, the original date of 1 January 2010 has been cancelled, without setting a new date, even though the Czech Republic will comply with all Maastricht convergence criteria in the forthcoming years. The degree of real convergence is also sufficient, including adjustment mechanisms against asymmetric shocks. The state of organisational and legislative preparations for the introduction of the euro is also well under way. Thus the postponement of the adoption of the euro has become a political rather than economic issue.

Suggested Citation

  • Mojmir Helisek, 2009. "The Czech Republic’s Progress on its Road to the Euro Area," ACTA VSFS, University of Finance and Administration, vol. 3(1), pages 6-28.
    • Handle: RePEc:prf:journl:v:3:y:2009:i:1:p:6-28
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    File URL: https://www.vsfs.cz/periodika/acta-2009-1-01.pdf
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    References listed on IDEAS

    as
    1. Zuhayr Mikdashi, 2003. "Regulating the Financial Sector in the Era of Globalization," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-4039-9011-2, December.
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    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    euro; euro area enlargement; nominal convergence; real convergence; asymmetric shocks; alignment of business cycles;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • F36 - International Economics - - International Finance - - - Financial Aspects of Economic Integration

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