Final Word from Wednesday, March 8, 2023

Miloš Zeman leaves the office of president today after 10 years as a person with few friends. His situation is similar to that of his handpicked CNB governor, Aleš Michl, who can't satisfy those who want higher yields on their deposits nor those who are drowning in debt. Zeman's trouble is that he abruptly shifted his position on Russia after its attack on Ukraine, thereby angering some of those in his base while failing to convince those who already disliked him that he was sincere. He told Terezie Tománková of TV Prima on Sun. that he's confident that his voters will understand his position in time. "They should realize that my generation in particular was traumatized by the Soviet occupation of 1968 and is therefore understandably sensitive when a superpower occupies a neighboring country." Zeman missed the point. Almost all Czechs condemned the invasion, but his voters expected a more reasoned response from him. Instead, he became a conformist who fully adopted the party line, something he had only done in the past when he was the one setting the rules. It's unlikely that his voters will ever understand this transformation. [ Czech Republic Czech National Bank CNN Prima News war ]