HELÍSEK, Mojmír. Wirtschaftliche Hindernisse für den Beitritt der Tschechischen Republik zur Eurozone (Economic Barriers of the Czech Republic´s Euro Area Accession). Estnische Gespräche über Wirtschaftspolitik. Theorie und Praxis der Wirtschaftspolitik. Berlin,Tallin: Berliner Wissenschafts-Verlag – Mattimar, vol. 2011, No 1, p. 36-49. ISSN 1736-5597. 2011.
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Basic information
Original name Wirtschaftliche Hindernisse für den Beitritt der Tschechischen Republik zur Eurozone
Name in Czech Ekonomické překážky vstupu České republiky do eurozóny
Name (in English) Economic Barriers of the Czech Republic´s Euro Area Accession
Authors HELÍSEK, Mojmír.
Edition Estnische Gespräche über Wirtschaftspolitik. Theorie und Praxis der Wirtschaftspolitik, Berlin,Tallin, Berliner Wissenschafts-Verlag – Mattimar, 2011, 1736-5597.
Other information
Original language German
Type of outcome Article in a journal
Field of Study 50200 5.2 Economics and Business
Country of publisher Czech Republic
Confidentiality degree is not subject to a state or trade secret
WWW URL
Organization unit University of Finance and Administration
Keywords (in Czech) Euro, eurozóna, rozšíření eurozóny, Maastrichtská kritéria, nominální a reálná konvergence, stabilita měnového kurzu, procedura při nadměrném schodku
Keywords in English euro, euro area, euro area enlargement, Maastricht criteria, nominal and real convergence, exchange rate stability, excessive deficit procedure
Tags AR 2010/2011, RIV_ano
Changed by Changed by: prof. Ing. Mojmír Helísek, CSc., učo 5013. Changed: 23/1/2021 22:50.
Abstract
The date of introduction of the euro in the Czech Republic has not been set. The Czech economy fulfils the inflation and interest rate convergence criteria, as well as the government debt criterion. The exchange rate stability criterion will be most likely fulfilled. The Czech economy possesses a high level of real convergence in respect of the euro area. Due to the economic recession, the government deficit criterion will probably not be fulfilled by 2012. The date of introduction of the euro in the Czech Republic is therefore postponed to 2015 at the earliest. The main reason for adopting the unified currency is the growing interconnection between the Czech and the euro area economies. The exchange rate of the Czech koruna to the euro has a higher stability than the exchange rate of the euro to the dollar, however, a long-term appreciation of the crown’s exchange rate weakens the competitiveness of the Czech exporters. The financial crisis and the recession have only complicated and postponed the adoption of the euro, but they have revealed no reasons to refuse the adoption.
Abstract (in Czech)
Termín zavedení eura v České republice není stanoven. Česká ekonomika splňuje inflační a úrokové kritérium konvergence a také kritérium vládního dluhu. Kritérium stability měnového kurzu bude splněno velmi pravděpodobně. Česká ekonomika dosahuje vysokého stupně reálné konvergence k eurozóně. V důsledku ekonomické recese pravděpodobně nebude do r. 2012 splněno kritérium deficitu veřejných financí. Termín zavedení eura v České republice se tak posouvá minimálně na rok 2015. Hlavním důvodem pro přijetí jednotné měny je rostoucí propojenost české ekonomiky s ekonomikou eurozóny. Kurz české koruny k euru vykazuje sice větší stabilitu než kurz eura k dolaru, dlouhodobá apreciace kurzu koruny však oslabuje konkurenceschopnost českých exportérů. Finanční krize a recese přijetí eura pouze zkomplikovala a oddálila, nepřinesla však žádné důvody pro odmítání přijetí eura.
Abstract (in English)
The date of introduction of the euro in the Czech Republic has not been set. The Czech economy fulfils the inflation and interest rate convergence criteria, as well as the government debt criterion. The exchange rate stability criterion will be most likely fulfilled. The Czech economy possesses a high level of real convergence in respect of the euro area. Due to the economic recession, the government deficit criterion will probably not be fulfilled by 2012. The date of introduction of the euro in the Czech Republic is therefore postponed to 2015 at the earliest. The main reason for adopting the unified currency is the growing interconnection between the Czech and the euro area economies. The exchange rate of the Czech koruna to the euro has a higher stability than the exchange rate of the euro to the dollar, however, a long-term appreciation of the crown’s exchange rate weakens the competitiveness of the Czech exporters. The financial crisis and the recession have only complicated and postponed the adoption of the euro, but they have revealed no reasons to refuse the adoption.
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