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The Czech Republic has been a member of the European Union since May 2004, and is a member of the Economic and Monetary Union of the European Union but has not completed the third stage of the EMU and therefore still uses its own currency, the Czech koruna. The euro will be adopted in a "big bang" scenario, meaning that the change will take place on one day.[1]
Initially the Czech Republic planned to adopt the euro as its official currency in 2010, however recent evaluations have found this unlikely.[2] Year 2012 had been considered later [3] but as of late 2007 even this date was said to be unrealistic. [4]
Currently, a competition for the design of the national sides of Czech euro coins is under consideration.
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