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Current AffairsCzech Republic withholds final decision on eurozone
More than 10 hours of negotiations in Brussels, lasting well into the early
hours of Friday morning, were not enough to produce agreement by all 27 EU
member states to back key changes to the EU treaty in the face of the
eurozone debt crisis. More
Current AffairsCzech government prepares for bad times
Standard & Poor's fuelled fears of a crippling economic crisis in
Europe on Monday, issuing a dire warning of an unprecedented mass downgrade
of eurozone countries’ credit ratings if EU leaders fail to deliver a
fast and efficient solution to the region's debt crisis. Although France
and Germany promptly threw their weight behind a reform plan which would
reinforce governance within the alliance, scepticism remains high and even
non-eurozone members such as the Czech Republic are bracing for the worst. More
Business NewsBusiness News
In Business News this week: the Czech Finance Minister warns of disastrous
consequences the fall of the euro would have for Czech economy; Czech banks
pass new stress tests but Moody’s downgrades their outlook to
‘negative’; Westinghouse signs cooperation deal with Vítkovice
engineering firm; Škoda Auto announces plans to develop a new SUV model;
and Nová Paka in eastern Bohemia is named the Czech town for business. More
Current AffairsCzech euro adoption retreats further into distance
The media coverage surrounding the problems in the eurozone has - rightly
– focused on the seventeen countries that use it, as they attempt to
shore up efforts to stop the sovereign debt crisis from spreading. But what
of the ten that don’t, and especially those new members like the Czech
Republic, which must – at some point - adopt the euro under the terms of
their EU membership? More
Business NewsBusiness News
The prime minister wants a referendum if the euro is to be adopted; a new
natural gas line opens to the north; passenger car production up; the
government shells out 11.7 billion on operation of renewable energy
sources; and Czech Television stops advertising. More
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