Will the Czech Republic Abandon the Czech Koruna?

Czech Koruna (CZK) Rates

Discussions regarding the transition to the euro from Czech Koruna in the Czech Republic were renewed after the President’s New Year’s speech. He supported abandoning the koruna, saying the euro would be a logical future for the country’s export-oriented economy.

However, the Czech Ministry of Finance does not see the point in moving the country into the Eurozone, since the country’s economy does not yet meet any of the criteria.

The Facts Behind Czech Koruna Currency Conversion:

Agency Median conducted a study on what part of the Czechs is ready to switch from the Czech koruna to the euro. Czech media writes that the President of the Czech Republic supported the country’s transition to the European currency.

Two-thirds of Czechs, which is 68% of respondents, do not consider it useful to abandon the national currency and switch to the euro. However, 21% of respondents expressed the opposite opinion. Another 11% of the respondents had not made a decision.

The researchers also determined whether the Czechs want to hold a referendum on the transition to the euro. 60% want a referendum on this issue; 35% – do not like the idea; and 5% found it difficult to answer. Students (45%) and businessmen (40%) are most often to talk about the advantages of introducing the euro.