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SP: Govt should start to solve financial crisis fast

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Trinec, Oct 29 (CTK) – Czech Confederation of Industry (SP) Wednesday called on
the government to react to the current financial crisis in a fast and
efficient way, according to a document the Confederation approved at a
general assembly here Wednesday.

The cabinet should set a date for euro adoption, reject the energy-climate
package and help more to small and midsized companies, the document says.

Premier Mirek Topolanek said, however, that in the current situation,
setting the date of euro adoption was unthinkable.

“At the time of financial crisis, we cannot be an island of calm in the
middle of a storm and pretend nothing can touch us. It is necessary for the
government to adopt drastic and rational measures before the crisis
arrives,” the Confederation’s president Jaroslav Mil said.

Mil is of the opinion that this is the cheapest way to handle the problem.

Topolanek told journalists Wednesday he saw the Confederation’s demands as a
delayed reaction which does not take into account what has happened thus
far. He is willing to discuss the Confederation’s demands, though.

Setting a date of euro adoption in a situation when the growth stability
pact is falling apart and there are other potential risks is a nonsense,
Topolanek said.

“I believe the date will be set in a year or later. And at the time when
the financial crisis is not yet over, I see this as a logical and right
step. I will still talk about it with the Confederation of Industry,” he

Mil pointed at the fact that companies in the Czech Republic were
increasingly more feeling the impact of the financial crisis which has been
transferred from the USA to Europe. They also face extremely high prices of
energies and materials, as well as frequent fluctuations of the Czech
crown. Many companies have to lay off, cut production and think about
moving part of production to other countries, he said.

The Confederation represents 1,600 companies. Its general assembly has at
the same time accepted the policy statement for next year.

The document calls on the government to approve steps for fast euro
adoption and make the country more independent as regards energy. It also
says the government should back economic interests and competitiveness of
domestic companies.

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