PM Nečas: a veto of the EU banking plans is not out of the question

Prime Minister Petr Nečas said that the Czech Republic may still veto the proposal to form a single European banking system. The prime minister made the announced in Brussels after a summit, where representatives of EU member states decided to create the banking supervisory system by the first of January. The Czech leader said that it is still not clear how the supervisory system will actual work, and whether it can potentially lead to the destabilization of the Czech banking system, which is why he may still try to block the proposal.

Author: Masha Volynsky