The Czech Competitiveness Council is a platform for debating competitiveness, economic policy and promoting solutions across all sectors, public and private.

Spotlight Issue

AmCham Policy Report, Issue 5 - June 2015

22 June 2015

Citibank’s Chief Economist Willem Buiter explores the many different ways Europe and the world can work for or against Czech business: excerpts from his presentation at the June 16th Competitiveness event - “What is the Czech Republic’s place in Europe and what is Europe’s place in the world?” you may find in the newest AmCham Policy Pipeline. View also results of a survey conducted among the participants of the "What is the position of the Czech Republic in Europe and what is Europe's position in the global context?" event. The event took place on 16 June 2015.


Politics: The Greek grand finale – with an unexpected ending

27 June 2015

Last week saw two summits and two Eurogroup meetings discussing Greece. After no substantial progress was made last week (ending 21 June), the European Council and Euro Summit President Donald Tusk called an extraordinary meeting of EU presidents and prime ministers for Monday 22 June. Since Greece did not submit any concrete proposals over the weekend, the summit ended very quickly. However, hope was renewed, because Greek PM Tsipras indicated that VAT reform and pension reform, which he previously saw as red lines, were negotiable. Renewed hope was, in turn, slashed by German finance minister Wolfgang Schauble before the Thursday Eurogroup meeting, which should have discussed the specifics of the Monday´s proposal. In what some called the “47-seconds reality check”, minister Schauble told the media outside the meeting room that nothing has changed. He only needed 47 seconds and the whole atmosphere reversed. The long-planned Thursday summit failed to resolve the Greek issue, too. A truly last-chance Eurogroup meeting was called for Saturday 27 June. Eurozone ministers made it clear that without a deal on Saturday, Sunday will be day 1 of Greek default talks. The atmosphere was quite pessimistic – PM Tsipras denounced blackmail from his peers´ part after the Thursday summit. The Greeks continued to withdraw money from banks during the week fearing default and messy Grexit, followed by devaluation of the new drachma. But hope was still there, nevertheless. EU leaders and prime ministers all said they are willing to compromise, if the Greeks agree to at least some of their terms. Although there would be no time after a Saturday deal to approve the last bailout tranche before Greek repayment deadline of €1.6 billion to the IMF on Tuesday, it was said there are options to overcome the formal problems and keep Greece afloat until the last bailout money arrives (for example the IMF repayment could be made using money prepared for the Greek banking sector which was never used). The ECB raised the emergency funding limits for Greek banks three times last week to keep the banking system alive.



Economic Policy: Chambers of Commerce submit Joint Position Paper on Temporary Employment Issue

11 June 2015

American Chamber of Commerce in the Czech Republic in cooperation with the Association of Personnel Services Providers, British Chamber of Commerce, German-Czech Chamber of Industry and Commerce, French-Czech Chamber of Commerce, Japanese Chamber of Commerce and Industry, Korea Trade-Investment Promotion Agency and Nordic Chamber of Commerce published/submitted to Ministry of Labor joint position paper in Czech on the temporary employees’ topic, which responds to the proposal of Ministry of Labor within the Employment Act amendment. The joint position paper, which summarizes the main issues: limiting chaining of employment contracts for a specified period of time and the introduction of quotas for temporary employees is available here.

To view a topic-related interview with Minister of Labor Michaela Marksová on Czech Television, click here.


Economic Policy: Czech Republic Overview 2015/2016, statistical data, legal information

19 June 2015

The American Chamber of Commerce published the Czech Republic Overview 2015-2016 brochure. Czech Republic Overview is an informative brochure about the Czech Republic including current key economic indicators, data & information about doing business in the Czech Republic, specific sector briefings, details on tax system and other information relevant to those looking to invest and/or operate in the Czech Republic.

To get a printed copy, click here.


Good Governance: AmCham comments to Insolvency (Bankruptcy) Act amendment by Ministry of Justice UPDATED

11 June 2015


In May 2015, the Czech Ministry of Justice submitted draft amendment to the Insolvency Act for internal commentary procedure. AmCham represented by members' expert group published a position paper with comments to the ministerial proposal. The document in Czech is available here.  In March, AmCham also published and submitted to the Ministry of Justice and the Government their Position Paper on Insolvency Proceedings. The document in Czech is available here.

The Economic Chamber of the Czech Republic stated in their press release on 17 June 2015 that the draft amendment does not address the issue of "insolvency mafia". Read more.


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