Final Word from Thursday, February 8, 2018

Andrej Babiš is in effect the grand master of Prague. His proxy at Prague city hall is Adriana Krnáčová, but if we accept that ANO is a one-man show, as nearly everyone in and outside of ANO acknowledges, the buck stops with Babiš even at city hall. Yet the biggest deals in the capital aren't benefiting Babiš, but rather his rivals from the Five Families. You don't see Babiš buying municipal companies or doing real-estate deals with city districts. It's instead Daniel Křetínský of EP Industries who swapped a stake in Pražské služby for full control of Pražská teplárenská and, according to insiders, increased his personal net worth by Kč 1bn on the spread. It's Penta and Kaprain (linked to PPF) that is buying underpriced land for overpriced apartments on Victory Square from a Prague 6 coalition that includes ANO. Babiš, as the grand master, has the power to put his foot down, but he isn't. His rivals are profiting, and he's going to take the political beating. It's the Prague paradox. [Czech Republic EPH J&T]

Glossary of difficult words

grand master - the head of an order;

proxy - a person authorized to act on behalf of another;

the buck stops here (or with someone) - the ultimate responsibility resides here (or with someone);

spread - the difference between two rates, prices or values;

to put one's foot down - to adopt a firm policy when faced with opposition or disobedience;

to take a (political) beating - to suffer as the result of something.

PDF Archive

«February 2018»

Choose the year


Tel: 420 224 221 580

Published by

E.S. Best s.r.o.
Ovenecká 78/33
170 00 Prague 7
Czech Republic



FS Final Word