Final Word from Tuesday, February 14, 2017

PM Bohuslav Sobotka said yesterday after meeting with CNB Gov. Jiří Rusnok that the Great Devaluation of the Czech Crown has been a success. He didn't actually call what the CNB has been doing since Nov. 7, 2013, a devaluation. Nor did he call it a success, but this is how Czech TV interpreted his words in its lead news item last night. What Sobotka actually said is that the main goal of the intervention of avoiding deflation has been met and that if we had not avoided this, it could have brought a whole slew of other risks to the economy. Thanks in part to Czech TV's fake news, Sobotka has now taken co-ownership of the devaluation in an election year. But what was the poor fellow supposed to do? Once he decided to visit the CNB, his fate was sealed. He had to either play his part or go against the global bankers who are systematically destroying our currencies and benefiting a small class of oligarchs. Sobotka knows which side his bread is buttered on. [Czech Republic Czech National Bank exit parliamentary elections]

Glossary of difficult words

slew - a large number or quantity of something;

to take ownership of something - to accept the credit or the responsibility for something;

to seal one's fate - to make a decision about what will happen to one;

to know which side one's bread is buttered on - to be aware of where one's best interests lie.

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