EU wants Czechs to give up 'golden shares'; State budget for 2005 signed into law; Eurotel ordered to pay 48m crown fine; Eurotel ordered to pay 48m crown fine; Record-high Czech beer exports in 2004
EU wants Czechs to give up 'golden shares'
The European Union wants the Czech government to give up its custom of retaining "golden shares" in state-owned companies considered to be "family jewels". The practice allows the government to maintain some influence in the formerly sate-owned companies after their privatisation. According to the European Court of Justice, however, "golden shares" are incompatible with EU directives on the free movement of capital.
State budget for 2005 signed into law
Eurotel ordered to pay 48m crown fine
Record-high Czech beer exports in 2004
Czech breweries expect to export a record 2.4 million hectolitres of beer this year, up by 12 per cent from the previous year. The chairman of the Czech Association of Breweries and Malt Houses, Jan Vesely, said that in 2004, exports of Czech beer to neighbouring Germany and Slovakia, as well as to the UK and the US, rose from 5 to 20 percent. Meanwhile, breweries are preparing a campaign to promote their beer abroad and plan to ask the EU to grant Czech beer the geographical indication of origin "Ceske pivo" (Czech beer), Mr Vesely said.