Eurozone authorities are losing credibility – CNB’s Singer
Credibility is key in crisis resolution and European authorities are failing to achieve, warns Miroslav Singer, the governor of the Czech National bank
In a speech at the Czech Embassy in London on Wednesday, the governor of the Czech National Bank (CNB) warned that European authorities were losing credibility over their handling of the sovereign debt crisis.
"[Markets] see no will to allow Greece to leave the eurozone and depreciate, but they also see no willingness to support the country sufficiently. The solution to the crisis has already been made unavoidably costly due to past non-credible and unclear communication," said Singer.
He
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