President Klaus says global economic crisis will resolve itself

Addressing journalists on Monday, President Václav Klaus said that he believed the current global financial turmoil would resolve itself, and that state intervention could only ever play a miniature role. Mr Klaus likened the current financial crisis to a common cold, which, he said, took seven days to cure, with or without treatment. The president praised the Czech government for not resorting to protectionist measures in the current climate.