Final Word from Wednesday, January 26, 2005
The appointment of Zdeněk Tůma as Czech National Bank governor four years ago was a contested affair. Both outgoing Gov. Josef Tošovský and Premier Miloš Zeman tried to block it. In contrast, the expected reappointment of Tůma to the CNB post next month is a cakewalk. No one is complaining. What does get blood boiling, though, is the expected appointment of ex-CEO Pavel Řežábek of Česká konsolidační agentura to the CNB board. Respekt said that Řežábek was a failure at ČKA and that President Václav Klaus should either explain the choice or find someone else. By reappointing Tůma, Klaus is apparently trying to make his other choices more palatable. If he gets away with "murder" with Řežábek, what will he do when more board seats become available? And how long will Tůma, in good conscience, be able to remain at the helm of the Klaus National Bank? [Czech Republic]