Euro bailout not worth a koruna

The Czech President Václav Klaus spoke out on Monday against his country's participation in the extension of the euro bailout fund. The plan stands to cost the country ten percent of its currency reserves. The liberal daily Mladá fronta Dnes sees his point. "It's about a principle. The Czech people want the euro no more than Czech business wants it. Even part of the Eurozone no longer wants the euro. Opinion polls show that the majority of Germans want the deutschemark back. All it would take is an election defeat for Mrs Merkel and we'll be surprised to see how fast the Eurozone collapses. And now we're being asked to support the euro, which is preventing Europe from recovering, with 90 billion koruna? With a loan that will never be repaid? ... We would only be shooting ourselves in the foot."

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