National Bank governor on biggest challenge: keeping EU regulation within reason

In his first interview since his appointment as governor of the Czech National Bank, Miroslav Singer, said that one of the biggest challenges in the months to come would be to respond adequately to the increasing demands for ever-greater regulation coming from the EC, and try to keep that regulation within reasonable bounds. Asked whether he thought the Czech Republic would join the eurozone during his six-year term in office, the governor said the question was highly speculative in view of the country’s finances which for the present time do not allow such a step.

President Klaus appointed Miroslav Singer to the post of central bank governor on Friday and he is due to take office on July 1. He replaces Zdeněk Tůma, who resigned in the spring saying it was time for a change of guard. Miroslav Singer has served as vice-governor of the central bank since 2005 and he worked as one of the directors of PricewaterhouseCoopers ČR before that.