Both Czechs and Slovaks benefited from the break-up of Czechoslovakia in 1993, former Czech president Vaclav Klaus told the ctk news agency. He said that by going their own ways the two nations had maintained their close relationship and managed to avoid a great many problems they would have faced in a common state. Then prime minister, Vaclav Klaus led the Czech team negotiating the terms of the so-called Velvet Divorce after the Slovak Parliament passed a resolution declaring Slovakia’s right to a sovereign state and full independence on July 17, 1992. On the same day then Czechoslovak president Vaclav Havel announced his resignation from office. He was later elected President of the Czech Republic.
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