Pavel once again promotes the euro in the Czech Republic

Czech President Petr Pavel has once again spoken out in favor of introducing the euro. On June 1, he declared that the Czech Republic should abandon its national currency, the koruna, and join the eurozone if retaining the koruna would hinder the country's economic development. When the Czech Republic joined the EU in 2004, it committed itself in principle to introducing the euro. Nevertheless, several governments have not yet actively pushed ahead with joining the eurozone. The current government under Prime Minister Andrej Babiš remains opposed to the introduction of the euro. "The very fact that our economy is closely intertwined with the eurozone should lead us to the realization that it is better to sit at the table where decisions are made than to stand at the door and merely deal with their consequences," Pavel said at the "Revize Česka" conference in Prague, according to Czech radio ČRo. Euro as part of stronger European integration Pavel also criticized the fact that many politicians in the Czech Republic were contributing to the negative perception of the single European currency. "I think that the Czech Republic can only be truly successful in an integrated and strong Europe. We basically meet all the requirements for the introduction of the euro," said the President. At the same time, he conceded that political and social fragmentation was making progress more difficult. His comments come shortly after the government decided to stop work on the annual report on the country's euro-ready status. In addition to Prime Minister Babiš's ANO party, the ruling coalition also includes the Freedom and Direct Democracy Party (SPD) and the Motorists for Themselves party. Both parties are critical of the European Union. The SPD is even calling for a referendum on a possible Czech exit from the EU. Debate about economic benefits During the term of office of the previous government under Petr Fiala, Pavel had already repeatedly campaigned for the introduction of the euro. In his New Year's address, he argued that joining the euro could help to reduce the income gap with Germany more quickly. However, the introduction of the single currency remains controversial. One of the most prominent opponents is Aleš Michl, Governor of the Czech National Bank (CNB). He declared last year that the euro was "no panacea" for the Czech Republic's comparatively slow economic convergence with Western Europe. The CNB is traditionally reluctant to introduce the euro, as joining the eurozone would put an end to the country's independent monetary policy. Majority of the population still rejects the euro The introduction of the euro has so far also met with little support among the population. According to a survey conducted by the Center for Public Opinion Research (CVVM) in August 2025, 66% of Czechs reject the introduction of the euro. Only 30% are in favor. At the same time, many citizens have a fundamentally positive view of EU membership. According to the same survey, 66% of respondents said they were satisfied with the Czech Republic's membership of the European Union, while 31% said they were dissatisfied. The debate about the euro is therefore likely to remain a key economic and European policy issue in the Czech Republic in the coming years. The post Pavel again promotes the euro in the Czech Republic appeared first on ostwirtschaft.de.