Implausible denial

If Josef Tošovský had stood up yesterday and admitted that, regrettably yes, he had collaborated with the Czechoslovak state police as a top adviser at the central bank in the late 1980s, the matter might have been quickly forgotten. He could have said it's obvious that a person in such a high position had to write a report now and again but that it was only economic in nature, and no one was hurt. But by denying what MFD seems to have documented quite well, he's making the matter worse. HN suggested in an editorial today that for all those years as Czech National Bank governor and premier, Tošovský was blackmailable. Tošovský's continued effort to cover up the truth merely raises greater suspicions about his period of history. Remember, Tošovský oversaw a banking industry that suffered Kč 600bn in losses. Each bad decision must now be considered in a new light.