Czech central bank and the finance ministry advised the government not to set a target date for adopting the euro for now, the central bank said in a statement. The government should also not seek next year to enter the preparatory euro-zone system, known as ERM II. The joint recommendation was based on a report on the assessment of fulfilment of Maastricht convergence criteria adopted by the government on December 18 . The bank and the ministry have kept their stance from a year ago when they also recommended no target date for the euro adoption. The Czech Republic is currently compliant with the criterion on price stability and the criterion on the convergence of interest rates but is not compliant with criterion on the government financial position, as it is still subject to the excessive deficit procedure. However, it is expected to fulfil this criterion in 2014. Unlike the former centre-right government that had repeatedly abstained from setting a target date for entering the eurozone, the new government led by leftist Social Democrats (CSSD) is expected to seek closer European integration. CSSD leader Bohuslav Sobotka has set 2020 as a possible entry date. As a EU member country, the Czech Republic is required to join the eurozone upon meeting Maastricht convergence criteria. Support for the common European currency in the Czech Republic stays low with only 7% of the Czechs willing to join the eurozone, according to a May poll by agency NMS Market Research . The share of euro supporters has been steadily falling in the Czech Republic since the country entered the European Union in 2004. According to earlier polls, support for the euro stood at 58% before the EU entry.
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