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Euro area accession

The main document summarising the Czech Republic’s plan for the introduction of the euro is The Czech Republic’s Updated Euro-area Accession Strategy of 2007. In line with this strategy, the Czech Government and the CNB regularly assess whether the Czech Republic has made enough progress in laying the groundwork for euro adoption to enable it to set a target date for entering the euro area and, accordingly, a date for joining the ERM II. This assessment is based on the document Assessment of the Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Euro Area prepared by the Ministry of Finance and the CNB. This document describes how well the Czech Republic is fulfilling, and will fulfil in the coming years, the Maastricht criteria (price stability, public finance sustainability, exchange rate stability and convergence of long-term interest rates) and the degree of alignment of the Czech economy with the euro area. The detailed underlying analyses of economic alignment are available in the Analyses of the Czech Republic’s Current Economic Alignment with the Euro Area prepared by the CNB on an annual basis.