Czech Prime Minister Petr Necas said his country is ready to block the set up of a single supervision system for the European Union's banking sector, CTK newswire reported. Necas made the comments at a two-day summit of EU leaders in Brussels on Oct 18-19, where the leaders agreed a single supervisor to take over responsibility for overseeing the banks in the eurozone. A legislative framework that makes the European Central Bank the main supervisor is to be put in place by January 2013. "Not only the Czech Republic, but also some other states like Sweden, have pointed at the fact that we do not know the wording of all the proposals concerning the banking union," Necas said adding "So the risk of the Czech veto is of course still there. We do not know in detail how the legislative proposals should function and whether there are sufficient guarantees to prevent potential destabilisation of the Czech financial market." |
Social Democrats (CDDS), the major Czech opposition party, proposed next year's general and European elections to be held on the same day, CTK news agency reported. CSSD leader Bohuslav Sobotka ... more
The Czech unit of UK retailer Tesco faces a fine of up to CZK 3mn (EUR 116,000) for selling beef lasagne containing undeclared horsemeat, Radio Prague reported. The state-run Agricultural and Food ... more
The upper house of the Czech parliament, the Senate, voted on March 20 a constitutional amendment to limit the immunity of lawmakers and constitutional judges, Radio Prague reported. Out of the ... more