Tosovsky warns of threats to CNB independence

On Dec 27, 2000, Czech National Bank (CNB) governor Josef Tosovsky said attacks on the central bank were increasing and could affect its credibility. The attackers include opposition Civic Democrat (ODS) leader Vaclav Klaus, who blames the CNB's policies for the high volume of bad loans in the portfolios of Czech banks.

Klaus is demanding that parliament and politicians be given the right to name or approve CNB board members - a power that now rests with the Czech president. And the Czech Cha