Czech National Bank head Singer opposed to pan-EU financial regulators

The recently appointed governor of the Czech National Bank, Miroslav Singer, says the creation of new pan-European Union financial regulators is not an appropriate response to the financial crisis. Mr Singer made the comments at Prague Castle on Wednesday after talks with Czech President Václav Klaus, with whom he is in accord on this matter. The central bank head said care should be taken that the Czech Republic’s stable financial sector should not get into trouble because it is wrongly regulated or because decisions were being made for which Prague was not responsible. Pan-EU regulators are set to begin exercising greater control over the bloc’s financial markets in January.

Author: Ian Willoughby