The Czech Republic does not need to negotiate a formal opt-out from joining the euro currency, which would not be to the country's advantage for a long time, Prime Minister Petr Necas said on Sunday.
The Czechs have been cautious about adopting the euro and Necas's centre-right cabinet has pushed the issue far into the future, saying it would not set any date during its term in office, which will end in 2014.
Necas said during a televised debate the eurozone had changed since the Czech Republic made a commitment to eventually adopt the euro, due to the economic crisis and the EU's response to it
"At this point, it is clearly showing that the costs of keeping the crown are lower than those of adopting the euro," Necas during a televised debate. "It will remain like that for a very long time."
The Czech economy is highly dependent on exports, and companies that have seen their margins shrink due to the long-term firming of the crown have been calling for adoption of the single currency.
But Necas said keeping the crown would help in the process of alignment of the Czech economy with the eurozone and would keep inflation low.