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U.S. presidential election not to affect Czech economy, minister says

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Brussels, Nov 8 (CTK) – The U.S. presidential election’s result will not markedly influence the Czech economy, Deputy Prime Minister and Finance Minister Andrej Babis (ANO) said on leaving a meeting of the EU finance ministers yesterday.
He added that he can see nothing positive about either of the two major candidates, Hillary Clinton (Democratic Party) and Donald Trump (Republican Party).
Babis said Clinton and Trump are the most hated candidates in the history of the Untied States as far as he is informed.
“I am happy that we are not in the euro zone and in the banking union, that we have the crown,” Babis said.
He said the opportunity to influence the exchange rate in relation to other currencies is a strong instrument to motivate the economy and support exports.
He dismissed as speculations the talk about that Trump’s possible victory would weaken the dollar and strengthen the euro.
In this connection, he referred to the supposition that the British pound will strongly lose in connection with the Brexit referendum.
“It [the U.S. presidential election result] will have some influence on bourses, but I do not think that it would harm the Czech economy,” Babis said.
He said he discussed the future negotiations with London about Brexit with former European commissioner Michel Barnier, who became the head of the European Commission’s team for the negotiations recently.
“It is to be seen if there is a Brexit. We spoke about this and I think that this is not sure at all,” Babis said.
He referred to the latest developments in Britain, where a court ruled that parliament must consent to the launch of formal negotiations with the EU.
The Czech Republic will focus on the position of Czech citizens who work in Britain in its future negotiations with Britain.
EU countries have made it clear to Britain that it will not have access to the EU single market unless it preserves the four related freedoms, including the free movement of persons.

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