Czech Republic decides not to join Euro Pact.

By bne IntelliNews March 28, 2011
The Czech Republic has decided not to join the so-called Pact for the Euro that will prompt countries to further coordinate their economic policies and in return give them access to the EUs permanent bailout facility after 2013, the EU council said in a statement on its website. The other three EU members that do not use the euro and decided not to join the blocs new economic coordination pact at the EU summit on March 24-25 were Hungary, Sweden and the United Kingdom. Bulgaria, Romania, Poland, Latvia, Lithuania and Denmark backed the package that includes a set of non-binding targets for harmonising policy in a range of areas - from labour markets and retirement ages to debt and corporate taxes. Prior to the EU summit, the Czech PM Petr Necas said the major reasons for not joining the pact is that it envisages the introduction of a common corporate tax base, which would not be good for the EU, as well as the introduction of a tax on banking transactions. He also criticised the fact that the pact had been negotiated by the eurozone members without any consultation with non-members. Necax did not rule out his country joining on at a later stage.

Related Articles

Czech CSSD proposes 2014 general and European elections to be held together.

Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more

Tesco Czech faces fine for selling products containing undeclared horsemeat

The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more

Czech Senate votes to limit immunity of lawmakers, judges.

The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 296
Dismiss