Czech Central Banks Says Country Ready to Adopt Euro

The governor of the Czech Republic’s central bank says the country is generally ready to adopt the euro, the common European currency.

Jiri Rusnok says his country “would certainly succeed” in adopting the euro. But in an interview with the local CTK news agency Wednesday, Rusnok said it would be first necessary to lower the differences in prices and wages between his country and the eurozone.

The country is officially committed to joining the euro but no target date has been set.

The possible next prime minister, Andrej Babis, whose centrist ANO movement is favored to win October’s parliamentary election, recently said he is opposed to setting a date.

Prime Minister Bohuslav Sobotka of the leftist Social Democrats recently said the election is the right time to debate the euro adoption.

via Mainichi

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza