The Czech President at the CNB: The central bank and the entire banking system are functioning well
The Czech National Bank and the entire domestic banking system are functioning well and are stabilised, said President of the Czech Republic Václav Klaus following his working visit to the central bank today. The President described his visit to the Czech National Bank as important and also as a signal for the public at home and abroad.
“The central bank and our entire banking system are functioning well and are stabilised. In contrast to some other banking systems in countries not necessarily all that far away from us, it can be said that the Czech banking system is in order,” said President Klaus at a short briefing at the CNB Exhibition. “This assessment of the situation is shared by both sides,” added the Governor of the Czech National Bank Miroslav Singer. “The Czech banking system is in order thanks to its own efforts and thanks to the rational behaviour of the Czech National Bank,” said President Klaus.
The President was visiting the CNB almost exactly two years after making an important speech on the topic of twenty years of financial and banking reforms in the Czech Republic at a conference held in the CNB Congress Centre.
Both the President and the Governor recommended Czech exporters to focus more on growth markets outside Europe, which is facing high indebtedness. “Not just Eastern markets, but also South American and Southern markets in general, as it is obvious that Europe will not provide growth impulses,” said the Governor.
As he mentioned himself today, President Klaus worked at the central bank (the State Bank of Czechoslovakia) for many years before 1989. “I am always glad to enter this building, where I spent ten years of my life,” he said.
Marek Petruš
CNB spokesman