Final Word from Thursday, March 16, 2017

The virtual debate yesterday on the floor of Parliament between Miroslav Kalousek and Andrej Babiš (who had more important things to do and let others do the talking for him) was surprisingly to the point. Viewers who didn't know how financial sharks strip assets from companies they control got a helpful tutorial from Kalousek (although he slipped up by saying that share purchases by a company are tax-deductible). Babiš, in turn, reminded viewers of the importance of certified appraisals in related-party transactions (although he glossed over the fact that the valuation is one of the main sticking points in the OKD privatization that he so criticizes). Kalousek also stressed the importance of having cover from people on the inside (GFŘ, finance ministry, etc.) when making a business of tunneling. With the knowledge that Kalousek and Babiš each have, they would make a great team at the helm of the finance ministry, each exposing all the tricks of the other. [Czech Republic Agrofert ANO TOP 09 Profrost Afeed]

Glossary of difficult words

helluva - (contraction) a hell of a; very good or appropriate;

to the point - relevant; appropriate to the current time, period or circumstances;

tutorial - an account or explanation of a subject;

to slip up - to make a minor or careless mistake;

related-party transaction - a business deal or arrangement between two parties who are joined by a special relationship prior to the deal;

to gloss over - to try to conceal or disguise (something unfavorable) by treating it briefly or representing it misleadingly;

sticking point - an obstacle to progress towards an agreement or goal.

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