Czech National Bank advises against joining ERM II in 2015
Central bank and ministry of finance release joint assessment
The Czech Republic should not set a target date for entry into the eurozone, nor attempt to enter the exchange rate mechanism (ERM II) in 2015, according to the central bank and ministry of finance.
In a joint statement, published on December 15, they advised the government to avoid making any commitments, partly because of the costs involved in joining Europe's new supervisory and regulatory institutions.
They also raised concerns over the fact the Czech economy has "stopped catching up with"
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