Speaking to Express.co.uk, the EU expert claimed the Czech Republic central bank is “intentionally” avoiding membership of the eurozone by ensuring it is yet to fulfil all the criteria necessary before Brussels could force them to adopt the euro. Mr Kratochvil argued this is the reason a second referendum on the euro in the Czech Republic would be unlikely despite the EU country having failed to join the eurozone since 2003. He said: “Some of the Czech parties, especially on the liberal side, would be calling for quick adoption of the euro but I don’t see that as a very probable outcome of the current situation.
“Indeed, I believe there are some who claim we should have a second referendum.
“However, legally speaking this is highly unlikely because the Czech Republic has committed itself to the Accession Treaty of 2003.
“One of the provisions in that Treaty says that the Czech Republic, once it fulfils all the criteria, shall adopt the euro.
“And that is also the reason why we are not in the European Exchange Rate Mechanism (ERM) too because our policymakers and our central bank intentionally delays or postpones the decision of joining the ERM so that they can say we are complying with the letter of the Treaty because we have not yet fulfilled all the criteria.”
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Earlier this month, European Central Bank chief Mario Draghi called for a stronger monetary union in Europe and urged to resist the siren calls of populism challenging across the globe the principles of open trade, multilateral cooperation and even democracy.
Mr Draghi starkly dismissed claims leaving the eurozone would offer an easier path to nations whose finance are currently struggling, as argued by illiberal ideologies and nationalists.
Speaking at the inauguration of the academic year of one of Italy’s most prestigious university, the Scuola Superiore Sant’Anna in Pisa, Mr Draghi said: “Only by continuing to make progress, freeing up individual energies but also fostering social equity we will save the European Project through our democracies, with a unity of purpose.”
Mr Draghi, credited with saving the euro following the financial crisis in 2008, said the European Union was born out of “exceptional circumstances”, World War 2.
He said: “The European Project wants a more united Europe, living in peace, democracy and prosperity.
“This Europe has been an exceptional answer, anti-historical, to a century of dictatorships, wars and misery.
“Ever since the world understood that challenges can be won only together and not divided, and this is particularly true for Europeans.
“We are rich but little, strategically exposed but weak from a military point of view.”
However, Mr Draghi said nowadays Europe is experiencing a fallback. He said: “The fascination with illiberal prescriptions and regimes is spreading, we are seeing little steps back in history.”
The president of the ECB also spoke about what he believes should be the next steps for members of the eurozone.
During his speech, Mr Draghi called for deeper private risk sharing, the completion of the banking and capital market unions and argued for euro-wide backstops that could help the bloc’s weaker members in case of market stress.
This manoeuvre has so far received the stark opposition of Germany, which fears its taxpayers will have to foot the bill for the fiscal irresponsibility and excesses of weaker euro members.