Czech News Daily

Klaus vetoes CNB bill

President Vaclav Klaus vetoed a bill on the Czech National Bank, which was supposed to define the central bank’s operation after the Czech Republic’s accession to the euro area. The Czech Republic has not fixed any date of adoption of the euro yet. As the current Chamber of Deputies cannot overrule Mr Klaus, the bill thus ends its legislation process. The bill represented mandatory transposition of the European Union’s law into the Czech legal order. The President noted that if the bill came into force, two valid laws on the Czech National Bank would exist in parallel.  Source  LN 14