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For this purpose the Ministry of Finance and the Czech National Bank presented a joint document summarising the benefits and costs for the Czech economy that would result from becoming a member of the Economic and Monetary Union.

It is a unitary parliamentary republic, has 10.6 million inhabitants and the capital and largest city is Prague, with over 1.2 million residents.

After the Battle of the White Mountain, the Habsburgs consolidated their rule, eradicated Protestantism and reimposed Roman Catholicism, and also adopted a policy of gradual Germanization.

With the dissolution of the Holy Roman Empire in 1806, the Bohemian Kingdom became part of the Austrian Empire and the Czech language experienced a revival as a consequence of widespread romantic nationalism.

The Government also expressed its intention to sign the Fiscal Compact (the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union) and to defend its interests in the emerging banking union, including preparations for accession.

Three political parties that formed the coalition government based on the general elections in May 2010 declared in their coalition agreement that for now they will not fix the date for euro adoption in the Czech Republic.

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