Members of a suspected car theft ring, headed by a 61-one year old Czech, which specialized in stealing Volkswagen Group models from Germans and Austrians in the Czech Republic and Germany have been seized by police. Cars were broken down into parts and shipped mainly to Bulgaria and Greece.
The last year was particularly turbulent. The One World International Human Rights Documentary Film Festival is quick to step up to the plate with the protests and unrest in various parts of the globe as a main theme. It’s not the only topic, though, in the 106 films from 44 countries. Everything from LSD to the murder of a journalist in Chechnya falls under the investigative microscope.
In recent weeks and months there has been a deluge of articles speculating about the possible scenarios for the escalation of the current crisis and their impact on states, companies and citizens. The common trait of all these forecasts is that they are based on unknown circumstances such as the breakup of the eurozone, demise of the euro and bankruptcy of EU-member states.
In an interview with the news server ParlamentyListy.cz, the chairman of the unicameral Slovak parliament and member of the center-right Freedom and Solidarity party (SaS), Richard Sulík, says the European Stability Mechanism (ESM) to bail out Greece would be a waste of money; Athens will never be able to pay back, he says.
Czech President Václav Klaus has hit back at reports he offended the Greek prime minister with comments about ouzo drinkers and people sitting in the shade of cypress trees who should not be allowed into a currency union with Germany. The Czech head of state argues that the words were not directly aimed at Greece. The text from the original newspaper interview suggests otherwise.
Debt mutualization alone will not save the euro, but without it the eurozone is unlikely to survive intact, writes CER chief economist Simon Tilford. The eurozone’s July 21st summit was a small step forward, as leaders agreed to lower interest rates on loans made by the EFSF and recognized that Greece’s debt burden is unsustainable. But this fell far short of what is needed, Tilford argues.
After beating around the bush, Czech Finance Minister Miroslav Kalousek (TOP 09) blunty declared in a radio interview that debt-burdened Greece will have to declare bankruptcy. Kalousek said the only questions that needed answers were when, at what cost and with what consequences for other countries. The Czech minister’s declaration came in the middle of an EU summit trying to save Greece from bankruptcy.
Speaking at a joint press conference following talks in Prague on Wednesday, the Czech and British prime ministers confirmed that they share the same position on Greece’s mounting debt. The two agree that under no circumstances should the European Financial Stabilization Mechanism (EFSM) be used for a second bailout for Greece.
Emerging from the meeting of EU finance ministers in Luxemburg on Monday, Czech Finance Minister Miroslav Kalousek (TOP 09) told reporters that as a part of the European Financial Stability Mechanism (EFSM), of which all the EU member states are members, the Czech Republic may be obliged to contribute Kč 3.5 billion towards guarantees for a second Greek bailout package.
Corruption in Czech business sector is seen as widespread by 78 percent of employees for large companies surveyed by consultancy Ernst & Young. Czech respondents were also far less likely than others in Europe to see the benefits of a positive ethical reputation, and most managers were willing to make ethical compromises to meet goals. Management, the report says, sets a bad example.