CNB vice governor: Prague not ready to give up control of monetary policy

The vice governor of the Czech National Bank says the Czech Republic is not ready to give up control of its monetary policy, while the euro is not ready to become the country’s currency. Speaking on Tuesday, Mojmír Hampl said it was contradictory for the eurozone to allow member states to have budget autonomy, while at the same time trying to enforce budget rules. Mr Hampl said the euro had not harmonised the diverse structure of the eurozone; neither had it ensured growth in its members and enforced basic rules upon them. In fact, the opposite happened, said the central bank vice governor.