The Lower House of Parliament overrode president’s veto of the controversial CNB amendment yesterday despite widespread critics from domestic economists, EU Commission, ECB, IMF and OECD. Both opposition parties and president are going to file complaint with the constitutional court.
The EU summit in nice is still hesitating to became a discussion about internal reforms that should prepare EU institutions for enlargement. Czech Prime Minister Zeman said that if the Nice conference is not successful, it will slow down enlargement and could cause political problems in Eastern Europe.
Deputy Finance minister Mládek point to public-sector deficit widening as the problem to meet the Maastricht criteria. These criteria have to be fulfilled in to order to join the Economic and monetary union.
The Czech koruna recovered from a quick slip in the morning. Recovering euro pulled the koruna down at 35.04 CZK/EUR. However, the koruna recovered late on Wednesday to 34.94 on the back of massive euro/yen sales. Against the dollar koruna stood at 39.31 from 39.41 late on Wednesday.