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Free AccessPresident Pavel To Decide Whether To Sign Pension Bill This Afternoon
Czech President Petr Pavel said that he will comment on the government's controversial pension bill this afternoon after he discussed the matter with Alena Schillerova and Karel Havlicek, senior lawmakers from the main opposition ANO party.
- Schillerova and Havlicek sought to persuade Pavel to veto legislation designed to slow the automatic increase in pensions, with the government pushing for a swift adoption of the bill in order to reduce spending this year.
- ANO lawmakers said that the President "is the last hope and guarantor of constitutionality" and announced that if Pavel refuses to veto the legislation, they would take the bill to the Constitutional Court.
- Havlicek called the meeting "very constructive" but admitted that the final decision "is up to him," adding that he believes that the President has not yet taken the decision about whether to veto the reform.
- The lower house can override a presidential veto by an absolute majority of votes but would be unlikely to do it on time for the bill to be approved by March 22, which is necessary if the bill was to take effect this June.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.