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Czech adoption of euro in 2012 is „realistic”

The Czech Republic may adopt the euro in 2012, the Finance Ministry said, the first official indication of the adoption date after the administration dropped 2010 as the target year set by the previous government.

The ministry mentioned the target year in an e-mailed press release from Prague today. The committee that coordinates the adoption preparations approved the national euro-adoption plan, the document that outlines details including how long the existing currency and the new currency will be in use simultaneously, the ministry said. „The Ministry of Finance considers adoption of the euro in 2012 realistic and the national plan is drafted to correspond with such a target,” the ministry said. The government of Prime Minister Mirek Topolanek will discuss the adoption plan by the end of next month, the ministry said. Topolanek's administration, which took power after last year's general election, dropped the previous euro-adoption year, citing the outlook for widening budget deficits and rising inflation. (Bloomberg)