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Govt plans to adopt euro in 2016

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The year 2016 could see the Czech Republic adopt the euro, according to a plan compiled by the Finance Ministry. In an annual report on the country’s euro convergence programme, the ministry proposes, among other things, lowering the state budget deficit below 3% of GDP by 2013, from the current 6.6%. If this happens, the country would likely meet all the euro adoption criteria three years later. But columnist for the weekly Respekt Jan Macháček points out the plan is hardly more than wishful thinking.

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