Final Word from Wednesday, October 20, 2010

When Energy Amb. Václav Bartuška took on the added post of envoy for Temelín at mid-year, he said he saw his appointment as the first step in an attempt to define the state's interests with regard to ČEZ. The decision by the National Security Council yesterday to delay the Temelín tender by a year and to take the decision-making process away from ČEZ can be seen as a further step. PM Petr Nečas suddenly looks a bit like a ČEZ buster. Except, of course, that he still has five ČEZmen in his cabinet and another as his chief adviser. Jaroslav Plesl of HN said it well when he wrote that Nečas has bought in to what is going down at ČEZ and would need to clean house there to prove otherwise. In our view, the purge would need to be followed by criminal investigations into possible shareholder fraud on acquisitions and unreported related-party transactions. Only then would Nečas deserve to be called a ČEZ buster.[Czech Republic Appian Škoda Investments ambassador]

Glossary of difficult words

to bust - to defeat utterly; to cause to collapse; to break, split or burst something;

envoy - a representative or messenger, esp. one on a diplomatic mission;

to buy into something - to believe in, esp. wholeheartedly or uncritically;

going down - going on, happening, occurring (usually suggesting something negative);

to clean house - to reform by removing undesirable personnel and procedures; to eliminate corruption or inefficiency;

related-party - involving individuals or entities with the power to control or exercise significant influence over both parties in a transaction.


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