Klaus: Czech Republic need own criteria for joining eurozone

The Czech President Vaclav Klaus has said that the Czech Republic needs to clearly define its own conditions for joining the eurozone. Speaking at a conference organised by the weekly Euro in Prague, President Klaus said Czech politicians and some economists only cite the Maastricht criteria but he said the country should set itself the conditions under which it wants to enter the European Monetary Union. The Maastricht criteria set limits for national debt, inflation, budget deficit and long-term interest rate. The Czech Republic, which does not comply with the budget deficit limit condition, is expected to adopt the euro in 2010, in line with a plan approved by the government two weeks ago.