• 04/09/2009

    Annual inflation speeded up to 2.3 percent in March from February’s 2.0 percent, the Czech Statistical Office announced on Thursday. Analysts say the latest figure is higher than Czech National Bank expectations but they say the outlook is for the pace of price rises to slacken over the next months. The higher cost of tobacco and alcohol as well as increased charges for fuel and housing were among the biggest factors pushing up prices in March, the statistical office said.

    Author: Chris Johnstone
  • 04/09/2009

    The Czech National Bank is drawing up changes to banking rules which would allow it to intervene in an emergency by boosting a troubled bank’s base capital, the news website Aktuálně.cz reported on Thursday. According to deputy bank governor Miroslav Singer, the changes would allow the bank to take that step within days and bring the country into line with other European countries. He stressed however that no Czech banks are in danger.

    Author: Chris Johnstone
  • 04/09/2009

    Rebel Civic Democrat MP Vlastimil Tlustý’s party membership has been cancelled, his local party association announced on Thursday after a meeting. The chairman of the Rakovník party Zdeněk Nejdl said 15 of the 23 members voted for the step. Tlustý, a former Civic Democrat finance minister, was one of four MPs who voted with the left-wing opposition to bring down the centre-right coalition government of Mirek Topolánek last month. He has since announced he would stand in European Parliament elections for the Libertas.cz eurosceptic party but refused to resign from the Civic Democrats.

    Author: Chris Johnstone
  • 04/09/2009

    Czech state-controlled carrier, Czech Airlines, has said that it is preparing to lay-off up to 200 workers in a bid to cut costs. The move has been notified to the local employment office. The step comes amid moves by the airline’s management to win union agreement for a cut in wages to relieve the downturn in airline earnings caused by the global economic crisis. Management are seeking to shave around 300 billion crowns from the annual wage bill. Unions are angered that the management seem to be seeking permanent wage cuts without a return to their original level when the crisis eases.

    Author: Chris Johnstone
  • 04/09/2009

    In ice jockey, Karlovy Vary are a step away from winning the extra league final. The West Bohemian club won the fourth game in the series against Slavia Prague on Wednesday night by 6-4. The win gives Karlovy Vary a 3 – 1 lead in the series and the chance to take the title on Friday. Success would mean they become the first non-Prague club to take the title in three years.

    Author: Chris Johnstone
  • 04/08/2009

    Czech President Václav Klaus will appoint Jan Fischer the country’s new prime minister on Thursday. The news came shortly after the centre-right Civic Democrats and the opposition Social Democrats reaffirmed their support for a caretaker government led by non-partisan Jan Fischer. Under the deal, the new interim administration should have 16 non-partisan cabinet members, take over on May 9th and rule the country until early elections in October.

    Although the two smaller coalition parties have reservations regarding this solution to the crisis, the two strongest parties on the Czech political scene – the Civic and Social Democrats have enough votes to push through both a confidence vote in the Fischer government and early elections.

  • 04/08/2009

    The deal on a caretaker government has led to a serious rift within the Christian Democrats of the outgoing coalition. The party leadership ruled on Wednesday that it would not support the emerging Fischer cabinet, a decision that caused a public rift. At least five deputies, including Finance Minister Miroslav Kalousek on Wednesday pledged to support the caretaker administration, despite a threat from the party leader that if they broke with the party line they would not be allowed to run for the party in the European and parliamentary elections.

  • 04/08/2009

    Czech Finance Minister Miroslav Kalousek is considering leaving the Christian Democratic Party. Mr. Kalousek said in an online discussion on the Czech EU presidency website that he was seriously considering ending his political career and not to running in the autumn parliamentary elections. He said he would make the decision on the basis of the outcome of the party’s national conference in May. Mr.Kalousek, who has engaged in numerous public disputes with party leader Jiří Čunek, said he had given the matter serious consideration

  • 04/08/2009

    The authorities have confirmed that two Czech students, aged 17, are among the victims of Monday’s earthquake in Italy. According to the Czech Foreign Ministry their bodies were identified in L'Aquila on Tuesday afternoon. Both were from the town of Pardubice and were in L’Aquila within the framework of a student exchange programme.

  • 04/08/2009

    The outgoing centre-right government and the opposition Social Democrats have agreed on an anti-crisis package aimed at curbing the impact of the global economic downturn on the Czech economy and stimulating growth. The measures include faster tax write-offs for companies, cuts in social insurance payments made by employers, amendments to the insolvency law, higher unemployment benefits and financial incentives to scrap old cars currently proposed at 30,000 crowns for the purchase of a new car of up to 500,000 crowns. Pending approval, the proposed measures sure remain in place until the end of 2010.

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