Czech Republic and the euro

The Czech Republic is bound to adopt the euro in the future and to join the eurozone once it has satisfied the euro convergence criteria by the Treaty of Accession since it joined the European Union (EU) in 2004. The Czech Republic is therefore a candidate for the enlargement of the eurozone and it uses the Czech koruna as its currency, regulated by the Czech National Bank, a member of the European System of Central Banks, and does not participate in European Exchange Rate Mechanism II (ERM II).

Although the Czech Republic is economically well positioned to adopt the euro, following the European debt crisis there has been considerable opposition among the public to the adoption of the euro currency.^[1] There is no target date by the government for joining the ERM II or adopting the euro.^[2] The cabinet that was formed following the 2017 legislative election did not plan to proceed with euro adoption within its term,^[3] and this policy was continued by the succeeding cabinet formed after the 2021 election.^[4] However, by the start of 2024, President Petr Pavel called on the government to take concrete steps in adopting the euro.^[5]