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.
Labels: Czech Republic, euro
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Helps when the President is an economist with brains. Wouldn't it be odd if Czecho became another Switzerland, a refuge for currencies escaping the inflation of a collapsing euro?ReplyDelete
I agree wholeheartedly. A small country with more brains at the top than the rest of the EU can marshall in its entirety.
Could be. Unfortunately the President will not last for ever and other politicians in Prague are no different from politicians everywhere.ReplyDelete
One of their better exports is defenestration. Do you think Dr. N. could be persuaded to adopt it rather than slaughter :D:DReplyDelete
Why don't you discuss it with Dr N., Sandy? Much more likely to get a hearing.ReplyDelete
PS, defenestration as practised by the locals in 1618 was not altogether successful. It needed the Soviets to move in and tell them how to do it.ReplyDelete
Historical references are likely to get more acerbic insights here, as witnessed above ;)ReplyDelete