Final Word from Tuesday, January 17, 2012



The official reason the CR's credit rating wasn't downgraded lies in the fact that Standard& Poor's didn't look at the Czech rating this time. It reviewed only 16 eurozonenations (minus Greece) and found that the EU summit in Dec. failed to produce abreakthrough for addressing the eurozone's financial problems. With the CR so dependenton the eurozone, shouldn't it have been included? Or was the CR (and theU.K.) being rewarded by the U.S. moneymen for dissing the new fiscal compact andIMF loan and helping to wreak havoc on the Continent? No, said an informed reader,it wasn't a conspiracy in this sense. The rating analysis was done before the CR's positionon helping the eurozone was known. When looking at the CR, he said, ratinganalysts merely plug the fundamentals and latest figures into their spreadsheet, readabout how Kalousek is serious about cutting the deficit, and out pops a good rating.

Glossary of difficult words

moneyman - a person responsible for managing money or financial arrangements for a business or institution;

to diss/dis - (informal) to act or speak in a disrespectful way toward;

to wreak - to cause (damage or harm);

havoc - great confusion or disorder;

to plug something into - to insert something (both literally and figuratively).

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