Czech billionaire Andrej Babis, a former finance minister whose ANO party is poised to win October general elections, is rejecting euro adoption, saying the country should keep the koruna to insulate itself from crisis.
“I don’t want the euro,” Babis, whose junior-coalition ANO party has a double-digit lead in opinion polls, said Friday in an interview on the sidelines of the reSITE cities conference in Prague. “I don’t want to be guaranteeing Greek debt and Italian banks.”
Giving up the koruna would deprive the Czechs of an important tool to spur economic growth in times of crisis, said the former finance minister, adding that the cap on the currency, which the central bank imposed to avert deflation until it removed it in April, “worked really well.” His comments contradict those of his estranged ruling coalition partner, Prime Minister Bohuslav Sobotka, who warned last month that accelerating integration inside the euro area could …
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