The Czech National Bank and the Ministry of Finance have recommended not to set a target date for adopting the euro yet and thus not to attempt to enter ERM II in 2011. This joint recommendation, based on an analysis entitled “Assessment of the Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Euro Area”, was adopted by the government at its meeting on 22 December 2010.

On 22th December 2010, the Czech Government discussed and adopted an analysis entitled “Assessment of the Fulfilment of the Maastricht Convergence Criteria and the Degree of Economic Alignment of the Czech Republic with the Euro Area - 2010”, which assesses the Czech Republic’s preparedness to adopt the euro. Based on this analysis and in line with the Czech Republic’s Updated Euro-area Accession Strategy (August 2007), the Government agreed with the recommendation of the Czech Ministry of Finance and the Czech National Bank not to set a target date for euro area entry for the time being and not to attempt to enter ERM II during 2011.