The Czech National Bank has published its 2026 survey of external analysts on European policy issues and euro adoption in the Czech Republic. The survey presents respondents’ views, not the central bank’s own position, and finds broad concern that the European Union’s competitiveness is being weakened by high energy prices, heavy regulation, an incomplete single market and geopolitical fragmentation. On the Czech Republic’s accession to the euro area, the respondents see no clear-cut economic case either way. Views are evenly split on whether the benefits outweigh the costs, while the main obstacles identified are the lack of political will, sceptical public opinion and concern over losing an independent monetary policy. Across the EU themes, respondents argue that climate ambitions, security needs and economic competitiveness are insufficiently aligned. They point to de-globalisation, supply-chain fragmentation and higher defence spending as factors likely to mean weaker growth and somewhat higher inflation over time, with particular sensitivity for the Czech Republic as a small, open and energy-intensive economy. Proposed remedies centre on lowering energy costs, cutting red tape, removing internal market barriers, deepening capital markets and increasing investment in infrastructure, research and defence. On the euro, respondents describe the loss of domestic monetary-policy flexibility and exchange-rate adjustment as the main disadvantage, while lower currency risk, lower hedging and financing costs and deeper integration with the EU core are the main advantages. Although the Czech Republic is seen as meeting or being close to the Maastricht criteria and could complete the accession process within about three years after a political decision, respondents judge political preparedness to be clearly insufficient and generally do not expect euro adoption before the 2030s, more likely in the second half of that decade.

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