Final Word from Wednesday, January 4, 2006
One of Jiří Paroubek's greatest weaknesses - but also one of his greatest strengths - is the way he overstates everything. When he criticized Czech National Bank Gov. Zdeněk Tůma for complaining about excess spending, he went too far by questioning the CNB's independence. But he raised valid doubts in the public's mind about the CNB's motives. After years of acting as a fellow traveller while the government doubled spending, the CNB chose a politically inopportune moment to complain so loudly. Tůma's remark came just before Christmas. It was all the more curious because a few days earlier Tůma had said euro adoption in 2010 is still attainable. Tůma's biggest sin, though, was going on TV. His article this week in HN about excess spending was even more damning but didn't boil Paroubek's blood. Tůma forgot that it's TV that matters most to the Putins and Paroubeks of the world.[Czech Republic governor central bank television Hospodářské noviny]