Greek crisis will not directly influence Czech Republic, says central bank governing board member

The Greek financial crisis will not have a direct impact on the Czech Republic, Czech central bank governing board member Lubomír Lízal has said. According to Lízal, stress tests have shown that the Czech financial sector is resilient to adverse shocks. The statement was made at the annual General Assembly of the Bank for International Settlements. Indirect impacts via the euro zone are likely but the euro area officials have made efforts to settle the crisis, Mr Lízal explained. Last week, talks between Greece and eurozone countries over bailout terms ended without an agreement, and Greek Prime Minister Alexis Tsipras then called for a referendum on the issue to be held at the end of this week.

Author: Jan Velinger