President Klaus vetoes central bank bill

President Václav Klaus vetoed on Thursday a bill on the Czech National Bank which would prepare the bank for the adoption of the euro. As the current Chamber of Deputies will not meet again, the respective legislation process will have to start from scratch. President Klaus said euro adoption by the Czech Republic was a political issue that had not been resolved, and the bill on the Czech central bank could be adopted at a later date. A spokesman for the bank said the veto would have no effect on the bank’s functioning as it would only apply after the country adopted the euro.

Author: Jan Richter