Euro adoption

On joining the EU, the Czech Republic undertook to adopt the single European currency – the euro. The main principles of euro adoption are described in The Czech Republic’s Euro-area Accession Strategy (pdf, 47 kB). In line with this strategy, the Government and the CNB regularly assess whether the Czech Republic is ready for euro adoption. The conclusions of this assessment are summarised in the Assessment of the Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Euro Area. In this context, the CNB performs detailed analyses once a year, which it publishes in the Analyses of the Czech Republic’s Current Economic Alignment with the Euro Area.

Assessment and Alignment Analyses

The joint document of the Ministry of Finance and the CNB Assessment of the Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Euro Area – 2023 will be published once it has been discussed by the Czech government.

In addition to the traditional analyses, Alignment Analyses 2023 (1.7 MB) contain five thematic chapters. The first examines in more detail the current institutional developments in the euro area and the European Union. The second investigates the impacts of changes in the koruna exchange rate on the competitiveness of the Czech economy. The third thematic chapter deals with the euroisation of the Czech economy, specifically the currently increased euro financing of Czech corporations. The fourth chapter provides a more detailed view of the Czech labour market. The last thematic chapter describes the heterogeneity of inflation developments across euro area countries in recent years.