Czech Republic can't survive on its own

The Czech government wants to decide today whether it will abide by the wishes of the EU summit and participate in the extended euro bailout mechanism, the ESM. There are many indications that Prague will refuse, leading the business paper Hospodářské noviny to urge Czechs to look beyond their own noses: "The Czech politicians - above all the prime minister and the president - act as if the Czech Republic could function in political and economic isolation. President Klaus even gives the impression that he would welcome the collapse of the euro because it would confirm that he was right from the start. ... Refusing to participate in the extended bailout fund would be suicide. Czech politics would go back to its old ruse of trying to contribute as little as possible while getting as much as it could from the Community."

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