Czech press survey - October 18

Kaiser recalls that for example German Finance Minister Wolfgang Schaeuble earlier this week shocked with a proposal of a single monetary commissioner who would be authorised to return state budgets to government of euro zone countries.

In a similar strong manner, Necas said he would veto the single banking supervisory mechanism unless risks for Czech banks are removed from the fundaments of the planned banking union, Kaiser writes.

He notes that 95 percent of the Czech banking system are daughters of foreign mothers.

In a banking crisis, mothers may want to start sucking all the profits from their daughters, but the Czech central bank can prevent them from doing so, Kaiser says.

Petr Necas threatens to veto the European banking union, which will surely make happy President Vaclav Klaus who believes that all that is from Brussels is bad, but it seems strange to reject a plan even though we do not know what it will contain, Petr Honzejk says in Hospodarske noviny.

The planned release of transactions between mother and daughter companies clearly includes a risk that the Erste Bank would take money from the Ceska sporitelna bank, Honzejk writes.

But we know nothing of the parameters of the planned banking union, Honzejk says.

On the other hand, we know that countries sometimes are not able to deal with their banks on their own, he writes, referring to Iceland.

Cancel Czech regional self-rule bodies, Vaclav Dolejsi writes in Mlada fronta Dnes (MfD).

The regional governors feel like regional prime ministers, but they are not, he says.

A system where regions promise its people a certain number of hospitals, schools and social care facilities, but where the central government in Prague makes the decision how much money will be earmarked for these public services is not viable, Dolejsi points out.

Author: ČTK
www.ctk.cz