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Šticky, Jiří

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3 articles of this author have been cited in the European Press Review so far.

Mladá fronta dnes - Czech Republic | 18/02/2015

Athens should start printing drachmas again

An amicable last-minute solution to the Greek debt crisis is highly unlikely, the liberal daily Mladá fronta Dnes comments: "The new government in Athens should start up the drachma money press. The prospect of the Eurozone's most highly indebted country making an exit seems increasingly more like a cause for relief and less like a threat. ... This departure is not only conceivable, it would also be controllable now. It would act like a shock therapy. The Greeks would be catapulted into poverty and return to a historically weak and frequently devalued currency which for a long time they used to compensate for an incompetent state. Yes, the creditors would no doubt lose a considerable portion of their money. But one of the promises made to Syriza's voters would be fulfilled: they would be bankrupt but free. Admittedly without the euro any more, one must add. Nothing comes for free."

Mladá fronta dnes - Czech Republic | 20/01/2009

EU forecast for economic slowdown in Europe

The EU Commission yesterday predicted a dramatic economic slowdown for the 27 member countries, with the exceptions of the Czech Republic, Poland, and Slovakia. The liberal daily Mladá fronta DNES comments: "It is worse than we expected, was the message from Brussels. The original prediction, a symbolic 0.2 percent growth rate, has been revised to warnings of an almost two percent drop. But amidst all the bad news the trio formed by the Czech Republic, Slovakia and Poland remains an island of growth. It would be great news if the forecast of 1.7 percent growth for the Czechs were fulfilled. ... However, the two most important motors for the Czech economy - the 'standing' auto industry and Germany - are expecting their deepest downswing since the end of World War II. There's no sign of a speedy recovery - and we will feel the consequences."

Mladá fronta dnes - Czech Republic | 24/07/2008

Czech koruna heavy burden for companies

Siemens has announced plans to close down its plant in Prague, as a result of which more than 1000 jobs will be lost. The liberal daily Mladá fronta DNES fears that Siemens will not be the only company to take such measures: "Even the closure of such a major company will not endanger the Czech economy, and the workers will find new jobs in Prague or elsewhere. Nonetheless, it will be difficult to attract new companies if the big firms start packing their bags and leaving." According to the newspaper the main reason for the exodus is the extremely strong Czech koruna. "Foreign firms that calculate in euros or dollars have seen their wage and salary costs rise by up to 40 percent owing to the [current strength of the] koruna. In this kind of environment only few would hesitate to make a move. It could also hit firms that under other circumstances would stay in the Czech Republic and prosper for years to come."

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