Prague - The European Union would not be ready any time soon to accept into its ranks the six former Soviet countries that the 27- member bloc hopes to bring closer through its Eastern Partnership initiative, an EU official said Monday.

"Let's understand that the European Union is not ready to accept a single one of those six countries into its ranks," said outgoing Czech Vice-Premier for European Affairs Alexandr Vondra, whose country chairs the EU until June 30.

Prague - European Union finance ministers said Saturday that matching US accounting rules, which allow US banks discretion over pricing their impaired mortgage assets, bore "critical importance" so European banks are not operating at a disadvantage.

The ministers, meeting informally in Prague, called on the continent's setter of accounting rules, the International Accounting Standards Board, "to cooperate closely" with its US counterpart "with the aim of achieving equivalent treatment... in order to avoid risks of competitive distortions."

Prague - US President Barack Obama was set to arrive in Prague on Saturday, the fourth stop on his five-country tour of Europe, where he is scheduled to meet EU leaders and deliver a key public speech on nuclear non-proliferation.

Obama is scheduled to address Europe on Sunday - a highlight of his stop in the Czech Republic - with historic Prague as his backdrop. The event comes as countries across Europe commemorate two decades since the collapse of Communism in Europe.

Prague - The European Union's finance ministers Friday praised the deal reached a day earlier by the world's largest economies on new global financial regulation and a boost in funding for key international institutions.

Arriving for a set of informal meetings in Prague, the EU finance ministers called the results of Group of 20 (G20) summit, made in a bid to overcome the global recession, a success.

Prague - The Czech Republic Wednesday has suspended the issuance of work visas to some Eastern Europeans and Asians in response to the economic downturn that has struck the country's export-driven economy, officials said.

As of Wednesday, the Czech embassies in Moldova, Mongolia, Thailand, Ukraine and Vietnam are suspending accepting work-visa applications and scheduling work-visa interviews, the Czech Foreign Ministry said in a statement.

Prague  - Rival Czech parties agreed to form jointly an interim government that is likely to replace acting Prime Minister Mirek Topolanek's cabinet at the helm of the European Union.

The interim government of experts, which would not be led by Topolanek, should take over in several weeks, local reports said Wednesday citing party leaders.

Topolanek said after the meeting that his outgoing cabinet would stay in "through the whole of April," the Czech news agency CTK reported.