Czech banks turn down financial aid package

Czech banks snubbed the prospect of international financial aid on Friday, saying they were well capitalized and did not need any financial assistance. The World Bank, the European Bank for Reconstruction and Development and the European Investment Bank announced a 24.5 billion-dollar two-year plan to provide capital to central and east European banks. But two of the three largest Czech banks, Komerční Banka and Česká spořitelna responded immediately that they did not need such financial assistance. The Czech government and National Bank have been keen to stress that the national economy does not need outside support.