Final Word from Thursday, March 5, 2009
A bad bout of the flu transmitted across the border by foreign banks is the most succinct way to sum up Václav Klaus's view of the economic crisis in the CR. The crisis was imported, he stressed in MFD. He's more accurate in his assessment of the global situation than most other prominent politicians. Yes, the crisis has been amplified by the "pseudo-activities" of governments across the globe. Yes, an atmosphere of fear has been created through the promotion of imaginary threats. No, stimulus packages aren't going to work. He's right in these respects, but where he's wrong is to suggest that the Czech people and their politicians are innocent bystanders. Overconsumption, financial profligacy and bad government aren't merely the preserve of the countries that started the crisis. Foreign banks can be blamed partly for the timing, but a crisis would have arrived in the CR at some point anyway.[Czech Republic MF Dnes]
Glossary of difficult words
accelerated - speeded up (coming sooner than otherwise expected);
bout - an attack of illness or strong emotion;
to transmit - to pass on (a disease or trait) from one to another;
succinct - briefly and clearly expressed;
to amplify - to cause to become more marked or intense;
imaginary threats - global warming, bird flu, mad-cow disease, Y2K, etc.;
profligacy - reckless extravagance or wastefulness in the use of resources;
preserve - a sphere of activity regarded as being reserved for a particular person or group.