Czech Taxpayers Mustn't Save Europe's Banks, Lidove Says
The Czech government must make sure that a unified banking supervision within the European Union won’t allow transfer of local savings abroad, Premier Petr Necas wrote in an opinion column in the Lidove Noviny newspaper.
Czech taxpayers can’t be asked to save troubled banks in Europe, Necas said in the column published today.
The Czech Republic is trying to secure a guarantee that its domestic banking supervisor, the central bank, will have a decisive say if a foreign bank seeks to turn its operations into a branch from a subsidiary, which is subject to stricter local regulation, Necas told the newspaper.
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