Czech business demands adoption of euro

The common European currency is a key factor in doing business in the Czech Republic.

In light of the fact that the Czech Republic is a predominantly export-oriented country with a significant link to the eurozone, the local businessmen see a lot of advantages in adopting the euro.

„The entrepreneurs are demanding the euro for many years but the politicians are not able to make the concrete steps,“ the Confederation of Industry’s president Jaroslav Hanák said at the conference „Adoption of the Common European Currency in the Czech Republic – Benefits and Risks“ held in the Prague Lichtenstein Palace on Friday 29th January. „Neither this government won’t make a concrete decision on the ERM II entry.“

In the conference, employers‘ and entrepreneurs‘ representatives as well as the government members headed by the prime minister Bohuslav Sobotka and the vice-premier Andrej Babiš, Czech National Bank governor Miroslav Singer, Czech EU-parliament members and foreign guests, for example, the vice-president of the European Commission Valdis Dombrovskis or Slovak finance minister Peter Kažimír, took part. The event has been organized by the Office of the Government of the Czech Republic and the Representation of the European Commission in the Czech Republic.

„For the businessmen, stability is a key factor,“ Hanák stressed. „The much awaited end of the foreign exchange interventions by the CNB rises questions about the CZK strengthening‘s level.“

The Confederation president underlined the key importance to preserve the Schengen area as a significant measure undertaken in the interest of Europe.

„What will bring the euro to the Czech citizens and companies?“ asked Hanák at the conference.