Czech NB's Tuma calls for flexibility on euro

The Czech National Bank said on Tuesday 23 March that the European Union should be flexible over euro entry requirements for accession countries.

Central Bank Governor Zdenek Tuma said Tuesday that eurozone rules requiring inflation in countries joining the euro to be no more than 1.5 percentage points above the average of the best three EU performers were inappropriate and potentially damaging to formerly communist countries hoping to join the single currency by the end of the decade.