{"id":5063,"date":"2014-01-09T00:00:00","date_gmt":"2014-01-08T22:00:00","guid":{"rendered":"https:\/\/europeanvalues.cz\/budoucnost-financnictvi-v-evropske-unii\/"},"modified":"2014-01-09T00:00:00","modified_gmt":"2014-01-08T22:00:00","slug":"budoucnost-financnictvi-v-evropske-unii","status":"publish","type":"post","link":"https:\/\/europeanvalues.cz\/cs\/budoucnost-financnictvi-v-evropske-unii\/","title":{"rendered":"Budoucnost finan\u010dnictv\u00ed v Evropsk\u00e9 unii"},"content":{"rendered":"

Minul\u00fd t\u00fdden byl guvern\u00e9r \u010cNB Miroslav Singer ocen\u011bn evropsk\u00fdm centr\u00e1ln\u00edm bank\u00e9\u0159em roku. Jak\u00e1 bude vlastn\u011b budoucnost st\u00e1tn\u00edch centr\u00e1ln\u00edch bank uvnit\u0159 EU? A jak by m\u011bly b\u00fdt regulov\u00e1ny? V \u010dem tkv\u00ed hlavn\u00ed p\u0159ek\u00e1\u017eky bankovn\u00ed unie? P\u0159e\u010dt\u011bte si v\u00fdstupy zahrani\u010dn\u00edch think-tank\u016f ze druh\u00e9ho t\u00fddne 2014.<\/em><\/p>\n

Vstup Loty\u0161ska do euroz\u00f3ny<\/a>
\nS\u00e9bastien Richard; Robert Schuman Foundation<\/em><\/strong><\/p>\n

P\u011bt let po za\u010d\u00e1tku krize a po mezin\u00e1rodn\u00ed finan\u010dn\u00ed injekci vstupuje Loty\u0161sko do euroz\u00f3ny. Komise tak Loty\u0161sko odm\u011b\u0148uje za \u00fasp\u011b\u0161nou snahu o konsolidaci ve\u0159ejn\u00fdch rozpo\u010dt\u016f a zv\u00fd\u0161en\u00ed konkurenceschopnosti zem\u011b.<\/p>\n

Po vstupu zem\u011b do Evropsk\u00e9 unie (EU) v roce 2004 p\u0159i\u0161lo p\u0159eh\u0159\u00e1t\u00ed ekonomiky: HDP rostl o 10 % ro\u010dn\u011b a platy o 20 %, co\u017e podpo\u0159ilo vznik realitn\u00ed bubliny. Ekonomick\u00e9 turbulence, p\u0159ich\u00e1zej\u00edc\u00ed z Ameriky, zas\u00e1hly Loty\u0161sko naplno a krom p\u00e1du HDP a r\u016fstu nezam\u011bstnanosti do\u0161lo i k bankovn\u00ed krizi, kter\u00e1 byla je\u0161t\u011b v\u00edce prohloubena kolapsem trhu s nemovitostmi. Ned\u016fv\u011bra a v\u00fdb\u011br velk\u00e9ho mno\u017estv\u00ed kapit\u00e1lu z Parex Banky donutily tuto instituci po\u017e\u00e1dat o st\u00e1tn\u00ed pomoc. Ta se nakonec vy\u0161plhala na hodnotu 19 % loty\u0161sk\u00e9ho rozpo\u010dtu. Loty\u0161sk\u00e9 vl\u00e1d\u011b nezbylo ne\u017e se obr\u00e1tit na Mezin\u00e1rodn\u00ed m\u011bnov\u00fd fond a EU a \u017e\u00e1dat je o pomoc.<\/p>\n

Podm\u00ednkou bailoutu v hodnot\u011b 7,5 mld. eur byla implementace \u00fasporn\u00fdch opat\u0159en\u00ed. Vl\u00e1da p\u0159istoupila k 30% redukci plat\u016f a penz\u00ed a k rozpo\u010dtov\u00fdm \u0161krt\u016fm ve v\u0161ech resortech. Nav\u00edc reformovala zdravotn\u00ed a vzd\u011bl\u00e1vac\u00ed syst\u00e9m. V\u00fdsledky se dostavily rychle: v roce 2011 do\u0161lo k obnov\u011b r\u016fstu HDP, exportu i dom\u00e1c\u00ed popt\u00e1vky. Loty\u0161sk\u00e9 vl\u00e1d\u011b se povedlo mezin\u00e1rodn\u00ed p\u016fj\u010dku splatit o \u010dty\u0159i roky d\u0159\u00edve, ne\u017e se p\u0159edpokl\u00e1dalo.<\/p>\n

Pot\u00e9 Loty\u0161sko za\u017e\u00e1dalo v b\u0159eznu 2013 o \u010dlenstv\u00ed v Hospod\u00e1\u0159sk\u00e9 a m\u011bnov\u00e9 unii (HMU). I v \u010dase vrcholn\u00e9 evropsk\u00e9 finan\u010dn\u00ed krize poplynou z tohoto \u010dlenstv\u00ed pro Loty\u0161sko n\u00e1sleduj\u00edc\u00ed v\u00fdhody: zaprv\u00e9 eliminace spekulativn\u00edch \u00fatok\u016f na loty\u0161sk\u00fd lat; zadruh\u00e9 sn\u00ed\u017een\u00ed n\u00e1klad\u016f na refinancov\u00e1n\u00ed st\u00e1tn\u00edho dluhu; a zat\u0159et\u00ed zlep\u0161en\u00ed podm\u00ednek refinancov\u00e1n\u00ed bank t\u00edm, \u017ee umo\u017en\u00ed p\u0159\u00edstup k Evropsk\u00e9 centr\u00e1ln\u00ed bance (ECB).<\/p>\n

Jeliko\u017e zem\u011b splnila v\u0161echna konvergen\u010dn\u00ed krit\u00e9ria, Evropsk\u00e1 komise pova\u017euje za spr\u00e1vn\u00e9 integrovat Loty\u0161sko do HMU. ECB u\u017e tak nad\u0161en\u00e1 nen\u00ed a ob\u00e1v\u00e1 se n\u00e1vratu inflace po p\u0159ijet\u00ed eura. Dal\u0161\u00edm probl\u00e9mem je extr\u00e9mn\u00ed cenov\u00e1 volatilita v posledn\u00edch deseti letech (oscilovala mezi -1,3 % a 15,3 %). ECB proto trv\u00e1 na dokon\u010den\u00ed rozpo\u010dtov\u00e9ho konsolida\u010dn\u00edho pl\u00e1nu a implementaci dal\u0161\u00edch struktur\u00e1ln\u00edch reforem, kter\u00e9 umo\u017en\u00ed lep\u0161\u00ed fungov\u00e1n\u00ed pracovn\u00edho trhu a zv\u00fd\u0161\u00ed konkurenceschopnost. D\u00e1le pova\u017euje za nutn\u00e9 omezit z\u00e1vislost bankovn\u00edho sektoru na ciz\u00edch (p\u0159edev\u0161\u00edm rusk\u00fdch) vkladech, kter\u00e9 p\u0159edstavuj\u00ed 33 % HDP zem\u011b, a implementovat p\u0159edpisy proti pran\u00ed \u0161pinav\u00fdch pen\u011bz.<\/p>\n

Transparentnost dohledu v evropsk\u00e9 bankovn\u00ed unii<\/a>
\nChristopher Gandrug a Mark Hallerberg; Bruegel
\n<\/em><\/strong><\/p>\n

Zv\u00fd\u0161en\u00ed transparentnosti regulace bank v r\u00e1mci unijn\u00ed bankovn\u00ed unie m\u00e1 dva velk\u00e9 p\u0159\u00ednosy. Jednak je to n\u00e1r\u016fst demokratick\u00e9 odpov\u011bdnosti a jednak zlep\u0161en\u00ed v\u00fdkonnosti trhu. Co se odpov\u011bdnosti t\u00fd\u010de, je pot\u0159eba se zamyslet nad legitimitou v\u00fdstup\u016f a nad jej\u00edm monitorov\u00e1n\u00edm. Jednou z mo\u017enost\u00ed je pou\u017eit\u00ed metody \u201epo\u017e\u00e1rn\u00edho poplachu\u201c, kdy jsou ve\u0159ejnosti pravideln\u011b poskytov\u00e1ny informace, a ta m\u00e1 tak mo\u017enost spustit \u201epo\u017e\u00e1rn\u00ed poplach\u201c, pokud nalezne jak\u00fdkoliv probl\u00e9m. Pro uskute\u010dn\u011bn\u00ed t\u00e9to metody je zapot\u0159eb\u00ed pr\u00e1v\u011b transparentnosti, d\u00edky kter\u00e9 jsou kvalitn\u011bji informov\u00e1ni i investo\u0159i, co\u017e m\u00e1 pozitivn\u00ed vliv na tr\u017en\u00ed efektivitu. \u010cast\u00fdm argumentem proti regula\u010dn\u00ed transparentnosti je, \u017ee m\u016f\u017ee vyvolat pen\u011b\u017en\u00ed nestabilitu, nicm\u00e9n\u011b existuj\u00ed n\u00e1zory, \u017ee \u010d\u00edm transparentn\u011bj\u0161\u00ed banka, t\u00edm m\u00e9n\u011b je n\u00e1chyln\u00e1 ke kriz\u00edm.<\/p>\n

V sou\u010dasn\u00e9 dob\u011b v Evropsk\u00e9 unii, na rozd\u00edl od USA, neexistuje \u017e\u00e1dn\u00fd syst\u00e9m transparentnosti regulace. Z osmn\u00e1cti st\u00e1t\u016f euroz\u00f3ny poskytuje p\u0159\u00edstup k dat\u016fm pouze p\u011bt z nich. Tato data ale nedosahuj\u00ed stejn\u00fdch kvalit jako data poskytovan\u00e1 bankami ve Spojen\u00fdch st\u00e1tech. Z \u010dlensk\u00fdch st\u00e1t\u016f stoj\u00ed za zm\u00ednku nap\u0159\u00edklad \u010cesk\u00e1 republika, kter\u00e1 tato data zve\u0159ej\u0148uje ji\u017e od roku 2000, nebo \u0160pan\u011blsko, kter\u00e9 stoj\u00ed na pomysln\u00e9 \u0161pici, co se kvality i frekvence poskytovan\u00fdch dat t\u00fd\u010de. Sm\u011brnice Capital Requirements Directive z roku 2013 po\u017eaduje, aby banky odhalily informace o sv\u00e9 kapit\u00e1lov\u00e9 p\u0159im\u011b\u0159enosti a vystaven\u00ed se rizik\u016fm. Toto je velice pozitivn\u00ed krok ke zp\u0159\u00edstupn\u011bn\u00ed dat jednotliv\u00fdch bank, nicm\u00e9n\u011b m\u00e1 st\u00e1le dost slab\u00fdch m\u00edst. Banky si mohou vyb\u00edrat v jak\u00e9m form\u00e1tu, v jak\u00e9 frekvenci a jak\u00e1 data budou zve\u0159ej\u0148ovat. Auto\u0159i studie m\u00edn\u00ed, \u017ee by evropsk\u00e1 bankovn\u00ed autorita m\u011bla domyslet alespo\u0148 jasn\u00e1 vod\u00edtka pro form\u00e1t a frekvenci bankovn\u00edch v\u00fdstup\u016f.<\/p>\n

Dohra krize: Regulace, dohled a role centr\u00e1ln\u00edch bank<\/a>
\n<\/strong>Ignazio Visco; Centre for Economic Policy Research<\/strong>
\n<\/em><\/p>\n

Pot\u0159ebujeme hlubokou a dalekos\u00e1hlou reformu dohledu a regulace finan\u010dn\u00edch trh\u016f. Finan\u010dn\u00ed krize v Evrop\u011b uk\u00e1zala, \u017ee komplexita finan\u010dn\u00edho sektoru neospravedl\u0148uje minim\u00e1ln\u00ed dohled, pr\u00e1v\u011b naopak. V na\u0161em syst\u00e9mu nelze v\u010das odhalit a identifikovat k\u0159ehk\u00e1 a n\u00e1chyln\u00e1 m\u00edsta. Od 70. let a\u017e do roku 2007 prob\u00edhala celosv\u011btov\u011b intenzivn\u00ed finan\u010dn\u00ed deregulace. Eurokrize oto\u010dila kyvadlo sm\u011brem k d\u016fsledn\u011bj\u0161\u00ed kontrole bank de a tento trend bude do budoucna pokra\u010dovat, poh\u00e1n\u011bn hnut\u00edmi jako jsou Occupy Wall Street a Indignados. D\u00e1le p\u0159it\u00e1hla pozornost ke zji\u0161t\u011bn\u00ed, \u017ee jednotliv\u00e9 strany v tr\u017en\u00edch vztaz\u00edch nejsou schopny ovl\u00e1dnout komplexitu finan\u010dn\u00edho syst\u00e9mu, kter\u00fd se jim vymyk\u00e1 z rukou. Neust\u00e1le roste separace skute\u010dn\u00e9 ekonomiky a financ\u00ed v hospod\u00e1\u0159sk\u00e9m syst\u00e9mu, kter\u00e9 se se skute\u010dn\u00fdm hospod\u00e1\u0159stv\u00edm dost\u00e1vaj\u00ed do otev\u0159en\u00e9ho konfliktu. V euroz\u00f3n\u011b vysko\u010dil za posledn\u00edch 10 let pom\u011br mezi finan\u010dn\u00edmi zdroji z\u00edskan\u00fdmi soukrom\u00fdm sektorem a HDP na 240 %.<\/p>\n

V r\u00e1mci reformy dohledu a regulace finan\u010dn\u00edch trh\u016f je nutn\u00e9 se zam\u011b\u0159it na finan\u010dn\u00ed gramotnost. Finan\u010dn\u011b gramotn\u00ed ob\u010dan\u00e9 vytv\u00e1\u0159ej\u00ed popt\u00e1vku po bezpe\u010dn\u011bj\u0161\u00edch finan\u010dn\u00edch produktech a nejsou tolik n\u00e1chyln\u00ed ke \u0161kodliv\u00e9mu zjednodu\u0161ov\u00e1n\u00ed v duchu \u201efinan\u010dnictv\u00ed je zlo\u201c. Stigma finan\u010dnictv\u00ed jako mor\u00e1ln\u011b pochybn\u00e9ho oboru, kter\u00e9 se t\u00e1hne od Je\u017e\u00ed\u0161e, Sol\u00f3na a Aristotela, vytv\u00e1\u0159\u00ed struktur\u00e1ln\u00ed ned\u016fv\u011bru v tuto discipl\u00ednu a mus\u00ed b\u00fdt nahrazeno nov\u00fdm paradigmatem dobr\u00e9ho, spravedliv\u00e9ho a u\u017eite\u010dn\u00e9ho n\u00e1stroje.<\/p>\n

Prvn\u00ed vla\u0161tovky modernizace a zm\u011bny ve finan\u010dnictv\u00ed se u\u017e objevily. Banky disponuj\u00ed kapit\u00e1lem vy\u0161\u0161\u00ed kvality i kvantity a pokryt\u00ed rizik je d\u016fsledn\u011bj\u0161\u00ed. Je ale st\u00e1le co zlep\u0161ovat. Akt\u00e9\u0159i na trz\u00edch jsou nap\u0159\u00edklad st\u00e1le moc z\u00e1visl\u00ed na ratingov\u00fdch agentur\u00e1ch. Bonusy mus\u00ed b\u00fdt ud\u011blov\u00e1ny na z\u00e1klad\u011b dlouhodob\u00fdch zisk\u016f, nikoliv za jednotliv\u00e9 \u00fasp\u011b\u0161n\u00e9 operace a musej\u00ed b\u00fdt vytvo\u0159eny n\u00e1stroje umo\u017e\u0148uj\u00edc\u00ed zachra\u0148ovat velk\u00e9 finan\u010dn\u00ed instituce v p\u0159\u00edpad\u011b jejich p\u00e1du, a to bez n\u00e1rok\u016f na da\u0148ov\u00e9 poplatn\u00edky. Centr\u00e1ln\u00ed banky by m\u011bly m\u00edt voln\u011bj\u0161\u00ed ruce pro svoje aktivity, aby mohly adekv\u00e1tn\u011b reagovat na d\u016fsledky krize. Modern\u00ed finan\u010dn\u00ed syst\u00e9m z\u00edt\u0159ka bude jist\u011b mnohem d\u016fsledn\u011bji regulov\u00e1n a ve sv\u00fdch ur\u010duj\u00edc\u00edch rysech bude \u00fapln\u011b jin\u00fd ne\u017e ten, kter\u00fd se vyv\u00edjel posledn\u00ed dv\u011b desetilet\u00ed.<\/p>\n

Potenci\u00e1ln\u00ed v\u00fdhody zaveden\u00ed z\u00f3ny voln\u00e9ho obchodu mezi Evropskou uni\u00ed a Spojen\u00fdmi st\u00e1ty mohou b\u00fdt mnohem men\u0161\u00ed, ne\u017e je v sou\u010dasnosti uv\u00e1d\u011bno<\/a>
\nGabriel Siles-Br\u00fcgge a Ferdi De Ville; London School of Economics \u2013 European Politics and Policy Blog<\/em>
\n<\/strong><\/p>\n

P\u0159ed V\u00e1nocemi se konalo posledn\u00ed kolo jedn\u00e1n\u00ed o z\u00f3n\u011b voln\u00e9ho obchodu mezi Evropskou uni\u00ed (EU) a Spojen\u00fdmi st\u00e1ty. Tato dohoda m\u00e1 p\u0159edev\u0161\u00edm pos\u00edlit ekonomick\u00fd r\u016fst na obou stran\u00e1ch Atlantiku a evrop\u0161t\u00ed v\u016fdci se p\u0159edh\u00e1n\u011bj\u00ed v tom, kdo p\u0159ipravovan\u00fd bal\u00ed\u010dek ekonomick\u00fdch opat\u0159en\u00ed v\u00edce vychv\u00e1l\u00ed.<\/p>\n

Auto\u0159i \u010dl\u00e1nku v\u0161ak entuziasmus evropsk\u00fdch l\u00eddr\u016f nesd\u00edlej\u00ed a argumentuj\u00ed, \u017ee smlouva o transatlantick\u00e9m voln\u00e9m obchodu \u017e\u00e1dn\u00fd v\u00fdrazn\u00fd ekonomick\u00fd stimul nep\u0159inese. Prim\u00e1rn\u00edm \u00fa\u010delem Transatlantick\u00e9ho obchodn\u00edho a investi\u010dn\u00edho partnerstv\u00ed my m\u011bla b\u00fdt synchronizace zp\u016fsobu, jak\u00fdm jsou evropsk\u00e1 a americk\u00e1 ekonomika regulov\u00e1ny. To je p\u0159itom v\u00fdsadn\u011b politick\u00e1 dom\u00e9na a dosavadn\u00ed historie v\u00fdsledk\u016f transatlantick\u00e9 spolupr\u00e1ce v oblasti ekonomick\u00e9 regulace nevykazuje, \u017ee by politick\u00e1 v\u016fle k takov\u00fdm krok\u016fm skute\u010dn\u011b existovala. P\u0159itom v n\u011bkter\u00fdch oblastech jsou evropsk\u00e9 a americk\u00e9 standardy na hony vzd\u00e1len\u00e9, jako t\u0159eba u regulace prodeje geneticky modifikovan\u00fdch potravin.<\/p>\n

Dal\u0161\u00edm nebezpe\u010d\u00edm pro \u00fasp\u011b\u0161nou realizaci transatlantick\u00e9 z\u00f3ny voln\u00e9ho obchodu jsou n\u00e1strahy americk\u00e9ho feder\u00e1ln\u00edho syst\u00e9mu vl\u00e1dy. R\u016fzn\u00e9 feder\u00e1ln\u00ed st\u00e1ty maj\u00ed toti\u017e r\u016fzn\u00e9 pr\u00e1vn\u00ed p\u0159edpisy, kter\u00e9 ekonomickou regulaci upravuj\u00ed. Z\u00e1le\u017eitosti, jako jsou standardy pro vypou\u0161t\u011bn\u00ed automobilov\u00fdch emis\u00ed, se mezi jednotliv\u00fdmi americk\u00fdmi st\u00e1ty zna\u010dn\u011b li\u0161\u00ed. Nezodpov\u011bzenou ot\u00e1zkou tak z\u016fst\u00e1v\u00e1, jestli bude americk\u00e1 feder\u00e1ln\u00ed vl\u00e1da schopn\u00e1 nab\u00eddnout n\u011bjak\u00fd ucelen\u00fd koncept, jen\u017e by tento probl\u00e9m \u0159e\u0161il. Auto\u0159i proto svou \u00favahu uzav\u00edraj\u00ed p\u0159esv\u011bd\u010den\u00edm, \u017ee zaveden\u00ed voln\u00e9ho obchodu mezi EU a Spojen\u00fdmi st\u00e1ty rozhodn\u011b nen\u00ed v\u0161el\u00e9kem na na\u0161e ekonomick\u00e9 probl\u00e9my, jak se n\u00e1m to n\u011bkte\u0159\u00ed evrop\u0161t\u00ed politici sna\u017e\u00ed namluvit.<\/p>\n

Lekce z polsko\u2013ukrajinsk\u00e9 hranice: \u017d\u00e1dn\u00fd pohyb bez infrastruktury<\/a>
\nAdriana Skorupska; Polish Institute of International Affairs<\/em><\/strong><\/p>\n

Ned\u00e1vn\u00e9 ud\u00e1losti p\u0159it\u00e1hly velkou pozornost k hranic\u00edm Evropsk\u00e9 unie (EU) s Ukrajinou. Politick\u00e1 nestabilita tohoto v\u00fdchodn\u00edho souseda vyvol\u00e1v\u00e1 ot\u00e1zky ohledn\u011b bezpe\u010dnosti Unie v n\u011bkter\u00fdch evropsk\u00fdch metropol\u00edch. Je v\u0161ak nezbytn\u00e9, aby hranice z\u016fstala pr\u016fjezdn\u00e1 pro proevropskou \u010d\u00e1st ukrajinsk\u00e9 spole\u010dnosti. Ov\u0161em zru\u0161en\u00ed v\u00edz pro ukrajinsk\u00e9 ob\u010dany, kter\u00e9 Polsko notn\u011b podporuje, se bohu\u017eel v bl\u00edzk\u00e9 budoucnosti konat nebude.<\/p>\n

Politick\u00e1 situace nen\u00ed jedinou p\u0159ek\u00e1\u017ekou integrace Ukrajiny se zbytkem EU. Autorka \u010dl\u00e1nku vysv\u011btluje, \u017ee velk\u00fdm probl\u00e9mem je zejm\u00e9na \u0161patn\u00e1 infrastruktura a nedostatek modern\u00edch hrani\u010dn\u00edch p\u0159echod\u016f, kter\u00e9 by dok\u00e1zaly odbavovat dostate\u010dn\u00e9 mno\u017estv\u00ed dopravy. D\u00e1le tato v\u00edzov\u00e1 povinnost, kterou EU pro ob\u010dany Ukrajiny zavedla, z\u016fst\u00e1v\u00e1 velkou p\u0159ek\u00e1\u017ekou spole\u010dn\u00fdm polsko-ukrajinsk\u00fdm projekt\u016fm. Av\u0161ak EU m\u00e1 z\u00e1rove\u0148 i n\u00e1stroje podporuj\u00edc\u00ed kr\u00e1tkodobou migraci a deregulaci hrani\u010dn\u00edch kontrol.<\/p>\n

Minul\u00fd rok skon\u010dil program p\u0159\u00edhrani\u010dn\u00ed spolupr\u00e1ce mezi Polskem, B\u011bloruskem a Ukrajinou a pod z\u00e1\u0161titou EU d\u00e1le pokra\u010duje spolupr\u00e1ce v r\u00e1mci tzv. euroregion\u016f. Polsko by m\u011blo usilovat o rozvoj ob\u010dansk\u00e9 spole\u010dnosti aktivn\u011bj\u0161\u00edm zapojen\u00edm region\u00e1ln\u00ed samospr\u00e1vy a tak\u00e9 neziskov\u00fdch organizac\u00ed na obou stran\u00e1ch hranice. V\u00edce p\u0159eshrani\u010dn\u00edch spole\u010dn\u00fdch projekt\u016f by m\u011blo z\u00e1rove\u0148 pomoci za\u010dlenit zemi do Unie bez toho, aby byla ohro\u017eena jej\u00ed bezpe\u010dnost.<\/p>\n

Analytick\u00fd t\u00fdm<\/a> think-tanku Evropsk\u00e9 hodnoty se dlouhodob\u011b v\u011bnuje anal\u00fdz\u00e1m (nejen) \u010desk\u00e9 pozice v Evropsk\u00e9 unii a ka\u017ed\u00e9 pond\u011bl\u00ed vyb\u00edr\u00e1 nejzaj\u00edmav\u011bj\u0161\u00ed studie instituc\u00ed zab\u00fdvaj\u00edc\u00edch se evropskou tematikou, vydan\u00e9 v uplynul\u00e9m t\u00fddnu. Seznam 48 aktu\u00e1ln\u011b monitorovan\u00fdch think-tank\u016f naleznete na na\u0161em webu.<\/p>","protected":false},"excerpt":{"rendered":"

Minul\u00fd t\u00fdden byl guvern\u00e9r \u010cNB Miroslav Singer ocen\u011bn evropsk\u00fdm centr\u00e1ln\u00edm bank\u00e9\u0159em roku. Jak\u00e1 bude vlastn\u011b budoucnost st\u00e1tn\u00edch centr\u00e1ln\u00edch bank uvnit\u0159 EU? A jak by m\u011bly b\u00fdt regulov\u00e1ny? V \u010dem tkv\u00ed hlavn\u00ed p\u0159ek\u00e1\u017eky bankovn\u00ed unie? P\u0159e\u010dt\u011bte si v\u00fdstupy zahrani\u010dn\u00edch think-tank\u016f ze druh\u00e9ho t\u00fddne 2014.<\/p>","protected":false},"author":6,"featured_media":15647,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-5063","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"yoast_head":"\nBudoucnost finan\u010dnictv\u00ed v Evropsk\u00e9 unii - European Values Center for Security Policy<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/europeanvalues.cz\/cs\/budoucnost-financnictvi-v-evropske-unii\/\" \/>\n<meta property=\"og:locale\" content=\"cs_CZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budoucnost finan\u010dnictv\u00ed v Evropsk\u00e9 unii - European Values Center for Security Policy\" \/>\n<meta property=\"og:description\" content=\"Minul\u00fd t\u00fdden byl guvern\u00e9r \u010cNB Miroslav Singer ocen\u011bn evropsk\u00fdm centr\u00e1ln\u00edm bank\u00e9\u0159em roku. 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