Final Word from Wednesday, September 1, 2010

As in the famous Czech film, we take back what we took back. We herewith retract our apology to Finance Minister Miroslav Kalousek for doubting his commitment to cutting the budget deficit. His final draft of the 2011 budget shows that he has no interest whatsoever in cutting spending or revenue. Between the earlier draft a month ago and the final one this week, he raised the spending level by 12% and the revenue figure by 13%, although he kept the deficit the same. The final outcome is a 2011 budget that is roughly the same as this year's. So where are all the savings that have been the source of such social distress in recent weeks and are driving public-sector workers into the streets? The money is being funneled into bloated eco-tenders, house-arrest contracts, IT systems, defense purchases and other deals that benefit a select few. If Kalousek is "guardian of the treasury," it is someone else's treasury.[Czech Republic Proud Princess Pyšná princezna TOP 09 ICT]

Glossary of difficult words

shocker - something that shocks, esp. through being unacceptable or sensational; 

famous Czech film - The Proud Princess (Pyšná princezna);

herewith - by this means; hereby;
to retract - to withdraw a statement or accusation as untrue or unjustified; 

budget - the final 2011 draft calls for spending of Kč 1.18 trillion, revenue of Kč 1.04 trillion and a deficit of Kč 135bn; the earlier draft called for spending of Kč 1.05 trillion and revenue of Kč 917.1bn; the approved 2010 budget calls for spending of Kč 1.19bn and revenue of Kč 1.02 trillion;

distress - extreme anxiety, sorry or pain; 

to funnel - to guide or channel something as if through a funnel; 

bloated - excessive in size or amount; 

treasury - the funds or revenue of a government, corporation or institution.


Tel: 420 224 221 580

Published by

E.S. Best s.r.o.
Ovenecká 78/33
170 00 Prague 7
Czech Republic



FS Final Word