Final Word from Friday, November 2, 2007

While politicians were savoring the announced resignation yesterday of Jiří Čunek, businesspeople were rolling on the floor laughing over the claim in MFD by President Jaromír Drábek of the Economic Chamber that there's "too much investment" in the CR. If he had meant too much hot money that is driving up the value of the crown, or merely too many investment incentives, he might have won more sympathy. But for the head of a chamber of commerce to say sweepingly that there's too much commerce ... well, it's like the line in "Amadeus" about there being "too many notes" in Mozart's music. Drábek is seeing his lobbying position erode as the Confederation of Industry (with its "strategic needs" plan) and the Dutch, German, Nordic and U.S. chambers (with their competitiveness council) undertake major initiatives. Drábek should let investors decide when they've had enough of the CR.[Czech Republic Netherlands Germany Scandinavian American MF Dnes overinvested Wolfgang]


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