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Czech Watch - 21 February 2001

21.2.2001 9:02
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Social Democrat (CSSD) chairman Premier Milos Zeman said he saw no reason for doing away with the opposition agreement, which was signed between the CSSD and the opposition Civic Democratic Party (ODS) after the 1998 elections, unless any party violates it.

The Chamber of Deputies tomorrow passed a government bill, under which an environmental impact assessment of constructions will be carried out.

The Chamber supported the version of the Senate, which returned the bill to it with proposed modifications.

Deputy Foreign Minister Hynek Kmonicek will probably be the Czech Republic's new ambassador to the United Nations. Kmonicek, an experienced diplomat, has worked at the Foreign Ministry since the middle of the 1990s, where he was, for instance, director of the America, Asia and Africa section. Current Czech Ambassador at U.N. Vladimir Galuska has been in the office since April 1997. Czech Republic's ambassador to NATO Karel Kovanda was his predecessor.

The Czech koruna on Tuesday recouped some of the losses it sustained against the euro on Monday following market turmoil in Turkey, as the euro slid versus the U.S. currency. Late on Tuesday the koruna stood at 34.56/59 to the euro, from the morning's 34.61/63 and 34.62/65 late on Monday. Koruna/dollar was weaker at 37.99/03 from 34.69/71 in the morning and from 37.59/62 late Monday. The region's currencies were hit by a row between Turkey's Prime Minister and president and subsequent market turmoil on Monday. The volatily brought the koruna down from last week's 2001 highs at 34.40.

Bonds dipped. The longest state 6.95/16 dipped five basis points to 102.80/10, yielding 6.65/62 percent. The state 6.75/05 fell five points to 102.40/70, yielding 6.05/5.97 percent.

(David Marek)


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