The new Czech central bank governor said uncertainty surrounding the euro zone in the wake of the Greek debt crisis is so great that there is no point considering adopting the common currency for now and expressed serious reservations about possible new Europe-wide regulations.Now there's a man who has been paying attention.
Miroslav Singer, a former vice governor of the Czech National Bank who was named to the top job last week, also said Czech interest rates are likely to stay at their current low levels "longer than people generally think." But he said further cuts were unlikely unless the economy slowed sharply.
Monday, July 19, 2010
The Czech Central Bank's new Governor does not think that the solution to his country's problems is entry into the euro.