Czech President Petr Pavel used his first New Year’s address since taking office to call for the introduction of the euro in the Czech Republic.
– “It is time to start taking concrete steps that will lead to the fulfillment of this obligation,” said the 62-year-old on Monday.
For a Central European country with an open economy oriented towards exports, a common currency is the “logical future,” he stated.
Former Chief of the General Staff of the Armed Forces, Pavel has been at the helm of this EU and NATO member state with approximately 10.8 million inhabitants since March 2023.
The Czech Republic has its own currency, the crown. Prague committed to adopting the euro when it joined the European Union nearly 20 years ago, but no specific timeline has been set for this.
The liberal-conservative government led by Prime Minister Petr Fiala has yet to agree on a date for the introduction of the euro.
However, a change in the law that came into effect at the turn of the year allows companies that generate most of their revenue in euros to maintain their accounts in that currency. The Czech Chamber of Commerce states that many large companies are already invoicing each other in euros.
