Czech PM slams EU over handling of bank deposit guarantees

09-10-2008

The Czech prime minister, Mirek Topolánek, says the European Union has shown a complete inability to deal rationally with the current financial crisis. Speaking on a visit to Turkey, Mr Topolánek said nothing had done more to shake confidence in the EU than the events of the last few days. He was particularly critical of the fact some countries had introduced 100-percent bank deposit guarantees; he described that move as a shameless step that would increase liquidity in some states at the expense of others.

While in Ankara, the Czech prime minister also said he would discuss Turkey’s efforts to join the EU with the German chancellor, Angela Merkel, when she visits Prague on October 20. The Czech Republic, unlike some other countries in the 27-member bloc, is in favour of Turkish membership.