Final Word from Wednesday, March 29, 2017

By law, Czech Television is required to provide "objective, verified, balanced and comprehensive information for the free formation of opinions." It is repeatedly violating this tenet in promoting a quick exit from the CNB's intervention regime. One week after misquoting Miloš Zeman as saying that the exit could occur "in the coming weeks," Czech TV reported last night that the exit will "apparently happen in the coming days" and "is happening now, because the Bank Board meets on Thur." This sort of unfounded speculation is permissible from analysts or even politicians, but Czech TV is violating the law if it is intentionally engaging in manipulation of public opinion to put pressure on the CNB to act. A similar sort of manipulation is visible in ČT's promotion of the presidential candidacy of Jiří Drahoš. This is coming at a time when the Czech TV Council is deciding on the next CEO of the station. If the Council reappoints current CEO Petr Dvořák, which it no doubt will, it will be saying that it fully sanctions the violation of the very law it is charged with upholding. [Czech Republic president devaluation]