Erste Group is making its feelings known about what should be done about the euro. Its CEO Andreas Treichl says regulation should be handled centrally, adding that deposit insurance should be treated the same way. “If we want to keep the common currency, we need a fiscal union in Europe,” he said. “And that must also mean that the states are prepared to subordinate their banking supervision to a European regulator.”
Meanwhile, Hospodarske noviny reports that Pavel Kysikla, Ceska sporitelna’s boss, says Greece, Spain and Portugal should leave the Eurozone. “If it’s communicated well, leaving the euro is manageable,” he says. “There are only a few months left to take this decision.”
“Greece [leaving] is bearable, Spain and Portugal would mean a bigger hit,” says his colleague on the Czech government’s economic council, Pavel Kohout. “But the expenses of these countries leaving would be lower than them staying in the eurozone.”
