Czech President Vaclav Klaus slammed the European Union's new "Euro
Pact" on Monday, saying it aimed to further undermine the sovereignty
of the bloc's member states. The president, known for his hardline
eurosceptic stance, said in an article published in the daily Pravo, that
member states should dare to say once and for all that they don’t want
European monetary union.
The Euro Pact, adopted by the eurozone's 17 members should strengthen
rescue funds in return for greater budgetary discipline and policy
convergence. The pact was open to all EU members, but the Czech Republic
and fellow non-eurozone nations Britain, Hungary and Sweden chose not to
endorse it. One of the arguments was that the pact could lead to tax
harmonization.