ed its laws and regulations with those of the European Union. The Czech government also plans to adopt the pan-European currency, the Euro, by 2012. As a result of these changes, the export-driven Czech economy grew by over 6% annually from 2005 to 2007, and strong growth continued throughout the first three quarters of 2008. Despite the global financial crisis, the conservative Czech financial system has remained relatively healthy. It appears the success of the Czech Republic in cleaning up the effects of communism center around the fact that the government of the Republic, with the support of the citizens, have adopted what we would refer to as a crash program to move the Czech economy as quickly as possible from centrally planned to market driven. Combined with incentives for foreign |
