Appointment of the CNB's Vice-Governor

Luděk Niedermayer, Vice-Governor of the Czech National Bank, is to be appointed as the CNB's Vice-Governor for another six-year period. The President of the Czech Republic Václav Havel will officially appoint Mr Niedermayer at 11.15 a.m. today, 15 February 2002, at Prague Castle.

Luděk Niedermayer's reaction to the announcement of his appointment as Vice-Governor:

'I greatly value the confidence that Mr President has shown in me by appointing me to the post of Vice-Governor of the CNB. Being involved in the central bank's activities in the period during which the Czech Republic will, in all probability, become a member of the EU is a great challenge for me, but also a great responsibility. The economic consequences of the Czech Republic's accession to the European Union and subsequently to the eurozone will be the principal task facing the CNB in the years ahead. In my future work at the central bank, I would like to concentrate, among other things, on the issue of the financial system and on establishing the central bank as an open and efficient institution."

Alice Frišaufová
CNB spokesperson