Publication of the National Euro Changeover Plan

The Ministry of Finance and the Czech National Bank today published the National Euro Changeover Plan on their websites. The Plan was approved by the Government on Wednesday 11 April 2007.

The National Changeover Plan is based on the euro area countries' euro adoption experience, including the recent successful changeover in Slovenia. The Plan consists of a set of procedures and guidelines for individual sectors and the public on how to prepare for the changeover to the single currency. It sets out, for example, basic rules for dual pricing and dual circulation of the Czech koruna and the euro, changes to information systems, and principles for providing information on the changeover. Consumer protection and minimisation of the costs to the private and public sectors are paramount.

Having been approved by the Government, the National Changeover Plan is now being made available to the general public. 'My advice is that businesses in particular should already be following the actions and recommendations stemming from the plan. Some of the changes linked with the changeover - in particular changes to information systems - need to be planned well ahead and it is a good idea to be thinking about them even though the Czech Republic has not yet set a date for the changeover," said Oldřich Dědek, National Coordinator of the Introduction of the Euro. The Plan has been drawn up in such a way that it will be ready for application for whatever changeover date the Government stipulates. 'The National Changeover Plan will also be published in printed form and on CD-ROM. It will be distributed primarily through the usual European affairs information channels - in particular via Eurocentres," added Petr Očko, Deputy National Coordinator for Organisational Matters.

In a situation where the Czech Republic has yet to set a changeover date, the approval of the National Changeover Plan sends out a clear signal to all citizens regarding the actions planned as part of the practical preparations for the country's euro area entry.

Additional information on the National Changeover Plan:

The National Changeover Plan consists of three parts:

• Part I - the general part 'Basic Information" is the executive summary of the National Changeover Plan. It contains the core principles on which the introduction of the euro in the Czech Republic will be based, as well as recommendations for individual areas, including the recommendations of the National Coordinator (pdf, 224 kB) ;

• Part II - the separate part 'Specification of Tasks in Individual Sectors" contains a detailed description of the recommendations and actions in individual areas as prepared by the working groups of the National Coordination Group (pdf, 272 kB) ;

• Part III - a glossary of basic terms associated with the changeover (pdf, 109 kB).

The specific recommendations for the changeover preparations are directed at six target areas:

1. Banks and other financial sector institutions
2. Public finances and central and local government
3. The non-financial sector and consumer protection
4. Legislative requirements for the changeover
5. Information sources and communication
6. Information and statistical systems

For more information go to http://www.mfcr.cz/euro.
Please e-mail euro@mfcr.cz or phone 257 042 984 if you have any questions.

Pavlína Bolfová, CNB spokesperson