E15 weekly 7. 11.

Monday, 7 November 2016 Issue 138 l newsstand price CZK 24/¤ 1 l www.e15.cz Uncuff the crown! Central bank may be playing a dangerous economic game by continuing to restrain the currency TOP STORY pages 8–9 The Spine Doctor Acclaimed surgeon Jan Štulík on healthcare costs, medics’ pay, politics and his pioneering operations FACE TO FACE pages 10–13 9 771803 454314 0 0 1 3 8 Photo: Profimedia.cz facebook.com/ e15weekly Dušan Kütner One of the longest-standing EU production quotas will next year be scrapped. For Czech producers of sugar, it’s good news. They anticipate rising production and exports, though a dra- wback is that they expect downwards pressure on the sugar price. And last year, at slightly above CZK 12/kg, it was already at its lowest for 12 years. Domestic sugar refiners are optimi- stic despite last year’s cancellation of the longstanding milk production quotas which, in combination with the Russian tit-for-tat import ban on EU milk, brought chaos on and beyond the Czech market, a sharp buyer’s price decline and producer losses. Accor- ding to Jakub Hradiský, spokesperson for Tereos TTD – the largest domestic sugar maker and the Czech unit of the France-based Tereos group – the can- cellation of quotas and lifting of export restrictions will open up markets with more than 70 million consumers to Czech producers. Continues on page 4 Market reforms mean Czech sugar mills have a taste for a big production push Sweet  transition

BUSINESS David Vagaday Myanmar’s Nobel Pe- ace Prize-winning foreign minister and state counsellor Aung San Suu Kyi met with Czech industry and trade minister Jan Mládek during his visit to the Burmese capital of Nay- pyidaw. The Social Democrat journeyed to Myanmar for a three-day visit at the head of a business mission of the Confederation of Industry of the Czech Republic. During talks, Mládek of- fered Myanmar cooperation in, among other areas, power engineering, food processing and agriculture. Suu Kyi, the de facto head of Myanmar’s government and long the chief representative of the Burmese transition to demo- cracy, identified these fields as priorities for her country and in the case of the food industry identified sustai- nable development as a key concern. The approaches of New Zealand and Canada served as an inspiration in this area, Suu Kyi said. The discussions also concluded that there was high potential for Czech-Burmese coope- ration in constructing more robust energy and commu- nication networks. “The aim of this trip is to build on traditional econo- mic relations and develop business cooperation with a  country which has been a traditional partner going back over many years. I am persuaded that the opening of the Burmese economy is for us a very interesting oppor- tunity,” Mládek told a press briefing. During the second half of the last century, My- anmar was one of the Czech Republic’s most important trading partners in Southe- ast Asia. news 2/3 Revival of Myanmar ties eyed Southeast Asian nation can again become important partner, says minister Photo: ČTK Daniel Novák Amazon, the online bookshop that turned into the world’s largest Internet-based retai- ler, aims to make a big splash in the Czech Republic ahead of Christmas. Aiming to shake up the fast-growing Czech on- line retail market, it is offe- ring free delivery on orders of EUR 39 (CZK 1,054) or more placed on the German Amazon website. Free delive- ry on orders worth more than CZK 1,000 is also available from domestic e-shop Mall.cz. Amazon declined comment on the free delivery available to its Czech customers. But German website Amazon.de already lists charges applica- ble to orders made from the Czech Republic. “Amazon will not enter this country throu- gh a billboard campaign and leafleting but by changing consumers’ shopping behavi- our, such as via mobile apps use,” said Adam Kurzok, an online entrepreneur whose Expando helps merchants make it onto Amazon’s web- sites. The home cavalry is putting on a  brave face. “Despite cross-border shopping’s rapid growth it is hardly competiti- on for domestic e-commerce in the Czech Republic. Con- sumers can choose from tens of thousands of e-shops ba- sed in this country that offer millions of products, quite often with free delivery. And they also frequently offer top- -class service and a range of supplementary offers,” said Tomáš Braverman, director of price comparison portal Heureka.cz. Braverman noted that Amazon could potentially change the game by inclu- ding the Czech Republic on the list of countries for which second-day delivery is availa- ble and topping that offer up with locally-geared services. Amazon, however, is known for declining to comment on its plans. Sculpture celebrates poetry of a South Moravian great The southern slope of the Špilberk Castle grounds in Brno is now home to a sculpture of acclaimed South Moravian poet Jan Skácel (1922-1989). It is the work of scholarly sculptor Jiří Sobotka, who used several thousand welded and brushed stainless steel tubes to form the head with a characteristic profile. Stuck to the sculpture, which cost CZK 2.6m to produce, is a QR code via which those interested can reach a website to learn about Skácel. The poet often took the fear induced by the communist regime of the former Czechoslovakia as one of his big themes and his verse was mentioned by Milan Kundera in his book Ignorance Photo: ČTK “There is big potential for cooperation between the Czech Republic and Myanmar in areas including geological mapping projects, resear- ching mineral deposits and processing the raw materials for utilisation. Other areas presenting opportunities are deliveries of machinery and equipment, agricultural tech- nology, energy field technolo- gy, transport infrastructure, and equipping hospitals and so forth," added Mládek, asse- ssing talks he held with several representatives of Myanmar. Myanmar’s commerce minis- ter Than Myint expressed an interest in Burmese participa- tion in Czech trade fairs, with Brno’s annual international engineering fair [MSV] chiefly in mind. Amazon turns heads with free delivery

Pavel Otto A defence ministry plan to build a CZK 350m Integrated Training Centre for soldiers, police and firefighters by 2020 in the South Moravian town of Vyškov is getting a lu- kewarm reception over at the interior ministry. Neither the creation of a working group, which has been meeting on the subject for two years, nor the support of some poli- ticians have helped to get the ball rolling. At issue is rivalry between the services and an unwillingness to share project costs. The army is resisting the carrying of the full burden of the spending. Next up is decision time for the National Security Council. “The army seeks further development and higher per- formance via the [existing] Vyškov military academy’s training capacities. We’d welcome all other interested departments sharing in the Czechs are turning against Czechs, warns new Castle candidate Lyricist, writer, poet, songwriter and entrepreneur Michal Horáček has announced his candidacy for the early-2018 presidential election. Speaking at a press conference held in a former Prague sewage water treatment plant, the 64-year-old warned how Czechs are turning against Czechs. He went on to declare that he would attempt to be “radically transparent” to voters as a non-partisan candidate seeking to spread respect for all. The pro-EU and NATO candidate presented his vetting certificate, statement on compliance with higher education obligations, financial returns and health status report. He said his election expenses would be covered by himself and his wife. It is still not clear whether the incumbent at the Castle, Miloš Zeman, will stand for a second term. He has said he will announce his intentions in March next year Police drag feet over joint training facility Photo: ČTK Prodding the dragon Only an idiot... After agriculture minister Marian Jurečka backed embattled Christian Democrat colleague Daniel Herman – the culture minister who sinned in officially meeting the Dalai Lama, he whom Beijing deems a dangerous separatist – payback from China was not slow in coming. The totalitarian state scrapped Jurečka’s planned visit. “The explanation was that this was done for reasons which both sides certainly understand,” remarks Jurečka. And so the frayed bilateral relations take yet another blow. Deputy foreign minister Martin Tlapa must now clear up the Jurečka mess. Two years ago, his boss, foreign minister Lubomír Zaorálek (Social Democrat), shifted away from Václav Havel’s warm ties with Tibet, declaring the occupied nation an inseparable part of China. Zaorálek himself is to travel to China next spring in a symbolic visit marking the end of the current Czech parliament. Now his plans need a little fine-tuning. Jurečka and Zaorálek are not alone. German economic affairs minister Sigmar Gabriel was in China last week – but Chinese media ignored him. It was clear retaliation for Germany reining in Chinese investment and insisting on equality for German firms in China. Provoking the dragon seldom goes unpunished. But there’s an upside: we see the regime’s true face beneath all the friendly smiles and talk of reform. Just like his predecessor, Civic Democrat interior minister Ivan Langer, former Social Democrat interior minister Martin Pecina confirms that Robert Šlachta, ex-chief of the Organised Crime Unit [ÚOOZ], once recommended that his unit be merged with the police’s anti-corruption team. So what turned this very issue into the hyperbolic furore we saw over the summer when current interior minister Milan Chovanec finally carried out the reorganisation? Šlachta has remained silent. All that remains, it seems, is to satisfy oneself with Miloš Zeman’s much repeated adage that only an idiot never changes their mind. But the problem is that a diametric change of opinion on such a specific issue demands a detailed explanation, lest he makes idiots of us all. Unless, of course, the real motivation was purely and simple opportunistic. Meanwhile, our political scene is consumed by an altogether different affair – namely Christian Democrat culture minister Daniel Herman’s Dalai Lama meeting. Critics say he breached a gentleman’s agreement struck by ministers that barred official meetings with the Tibetan leader. ANO chief Andrej Babiš, who never fails to spot a crowd- pleasing bandwagon, is now siding with the Christian Democrats. building costs for the new cen- tre,” said Vladimír Lukovský, a  defence ministry spoke- sperson. He added that the existing Vyškov academy faci- lities represented an inherent site advantage, and that these could be further utilised and developed for training purpo- ses. The grounds neighbour the army’s Březina military training facility. “First we must wait for the results of working group me- eting,” said interior ministry spokesperson Hana Malá. “This comprises of, among others, Czech Police Service and Czech Fire Brigade repre- sentatives.” This group has already formulated a joint training concept factoring in mem- bers’ feedback. The concept has been seen by both the Parliamentary Committee for Defence and the National Security Council. “The aim is to jointly crea- te a department which can address a plethora of serious threats, and cultivate effective joint intervention capabilities. Those are the main reasons for closer cooperation by the services,” said Bohuslav Cha- lupa (ANO), deputy chair of the parliamentary committee. Available information iden- tifies the key stumbling block as the police force’s unwilling- ness to fully engage with the project. But the Customs Ad- ministration appears ready to use such a facility to help train up to 100 staff annually. Among the evidence that the army and police services’ relationship is being under- mined by longstanding tensi- on is the affair surrounding the abduction of Czechs in Lebanon in 2015. Though they were eventually brought home, the case was plagued by accusations that military intelligence and the secret service, which falls under the interior ministry’s purview, failed to cooperate. Igor Záruba’s notebook Pavel Otto’s notebook

business 4/5 TRANSPORT Jan Šindelář The Railway Infrastructu- re Administration [SŽDC] is completing the first step towards building a high-speed rail link between Prague and Dresden in eastern Germany, running via Ústí nad Labem. Before a formal evalua- tion begins, interested parties are partaking in a tender to commission a feasibility study. According to E15’s sour- ces, French firm Egis Rail, in conjunction with the Czech think tank Centre for Effici- ent Transport [CEDOP], pre- sented the cheapest bid. The French-Czech consortium is seeking almost CZK 6.8m to draw up such a study; second place Sudop Praha’s bid was higher by more than a million crowns. The anticipated price was CZK 9.85m. Eight entities pla- ced a bid for the commission, including Metroprojekt, Sudop Brno, AF Cityplan and Mott MacDonald CZ. SŽDC decli- ned to comment on the number of bidders and the bid prices. The contest\'s outcome is set to have multiple ramifications. The study will indicate what the future of the railway ne- twork will look like. The high- -speed route to Dresden will be the first of its kind in this country. “The task of the study is to find feasible, territorially viable and beneficial solutions for the carriage [of passengers and goods], the technology, the project economics and the environmental aspect,” said SŽDC spokesperson Kateři- na Šubová. It is assumed, for example, that the route will run through a tunnel under Krušné hory, and that between Prague and Ústí nad Labem the trains will travel at 350 kmh. Transport minister Dan Ťok spoke during the spring about completing the rail link Fast trains one step closer French-Czech bid ‘cheapest’ in Prague-Dresden high-speed rail contest Fishermen overcome morning nerves to land big haul Somewhere around 30 tonnes of fish have been harvested from the “Amerika” carp pond of fish farm Rybářství Mariánské lázně, matching last year’s result. The big fishing day also amounts to a social calendar event in the West Bohemian locality. Carp fried on the spot was dished out to locals. The fishermen had to overcome morning nerves – the warm weather, causing fish to spread out rather than cluster, could have reduced the haul. The aquaculture enterprise, which manages 360 ponds, hopes to land close to an overall 600 tonnes of fish this season Photo: Profimedia.cz Continued from page 1 Production versus demand should rise across the whole of Europe by two to four million tonnes annually, the forecas- ting of Tereos, which operates two of the seven sugar mills in this country, shows. Last year, EU production of processed white sugar stood at 24 million tonnes, with 452,000 tonnes of that attributed to the Czech refiners. “It is possible to antici- pate pressure on the sugar pri- ce, with it decreasing towards the world price,” said Hradiský. The Czech mills are fully competitive in comparison with competitors across Europe, the Agricultural Chamber [AK ČR] says. Some of the credit for that goes to the state for at least mo- derately supporting sugar beet cultivation, it adds. The Czech Republic is enti- rely self-reliant for produced sugar, in contrast to the case withmilkandpork.Thatshould stay the case even if it remains on the pro-export sugar path. In terms of average production over the past three years, the Czech Republic ranks seventh in the EU, having produced more sugar than, for instance, Spain, Italy, Austria, Hungary and Slovakia. “All the factors show that the Czech sugar beet cultiva- tors and sugar processors are better prepared for entering a liberal market environment than were their counterparts in milk. A situation similar to the milk crisis should not be repeated with sugar,” conclu- ded AK ČR spokesperson Dana Večeřová. The sugar market changes are part of the EU’s Common Agricultural Policy reforms. European sugar groups will be able to produce and export as much as they want. Under the current restrictions, the EU is a net importer of sugar. European sugar is produ- ced from beet, as opposed to cane, grown in many of the tropical countries that make sugar. Analysts say beet has become an efficient and high- -yielding crop, compared to cane, thanks to higher levels of R&D investments. Sweet transition Photo: ČTK by 2030. But many people in his ministry do not believe such a deadline is realistic. If Egis Rail and CEDOP emerge victorious from the tender it will mean foreign ri- vals breaking into the ranks of Czech project designers, who are largely represented by Su- dop Group. CEDOP has long pushed for the development of high-speed links in the Czech Republic. It has been critical of the work of Czech counter- parts in this field. Big time saving. Currently, the train journey from Prague to Dresden takes around two and a half hours. A high-speed link should cut the duration to around an hour

Jan Stuchlík Investors are preparing to pioneer lithium mining in the Czech Republic in three years’ time. Lithium mica will be sourced from the abandoned spoil pile in Cínovec, located in the northwestern Krušné hory [Ore Mountains]. It is to be acquired by the Cínovecká deponie firm, majority- owned by the RSJ Private Equity fund. The fund is run by billionaire Karel Janeček and his partners from the RSJ financial group. A mining permit was issued to Cínovecká deponie by the Czech State Mining Administration [ČBÚ] in September. “Right now we must prepare the project for separation lines, which separate out the raw material Fund moves forward with lithium mining venture up and down Michael Tělecký Co-owner, Tonak The internationally known hat maker is to turn hundreds of tonnes of waste in the form of rabbit fur and skin into bio-fertiliser pro- ducts, thereby earning extra profits. Robert Šlachta Deputy chief, Customs Administration The ballyhoo surrounding the police reorga- nisation is fizzling to nothing. It is starting to look like the former anti-organised crime police chief was instrumental in creating the controversy, had previously expressed his support for the change. Libor Vacek Executive director, Telex The company has linked up with an Estonian energy giant and under the business coope- ration it has developed a gauging system for shale fuel control. for the production of lithium from the mined grit. That project will take two to three years. Then we will start with the extraction,” said Libor Winkler, a partner at RSJ Private Equity. Efforts are also under way to find a financial partner for the investment. Some 2,100 tonnes of pure lithium are thought to be contained in the spoil pile left by the mining of non-ferrous metals. In industrial usage, for instance in batteries, manufacturers deploy lithium carbonate, which is five times more present in pure lithium than impure lithium. A tonne of lithium carbonate currently fetches around USD 6,000. “But we won’t be selling lithium carbonate. We are not considering moving into its production. So what we sell will be at a lower price,” added Winkler. The RSJ fund has invested around CZK 300m in the lithium mining project. It expects the annual rate of return to amount to approximately 20 percent. The fund bought its Cínovecké deponie stake in 2013. The fund managers were convinced that a reliably measurable estimate of lithium was in the deposit. Subsequent analysis bore that out. The original plan was to build the separation lines 15 kilometres from the spoil pile. But the mica is instead to be separated at the extraction site. In that way, transport costs will not be incurred. Yearly, the lines are to process 120 tonnes of grit. The mining should last five to six years. advertising 257996/48 E15 weekly, economic and business news magazine | www.e15.cz Igor Záruba, Executive Editor, igor.zaruba@cninvest.cz; Marian Hronek, Editor, marian.hronek@cninvest.cz | Translation: TextMasters, textmasters@textmasters.cz Contact: Adéla Nová, Secretary | Call (+420) 225 977 668 Postal address: Komunardů 1584/42, 170 00 Praha 7 | Published CN Invest a. s., Pařížská 130/26, 110 00 Praha 1 Josefov, IČ 04312945 Advertising: Šárka Kamarýtová, Sales Manager, sarka.kamarytova@cncenter.cz Production: vyroba@cninvest.cz | Distribution: distribuce@cninvest.cz Registration: E 21420 E15 weekly, ISSN 2464-711X Reprints & Permissions: The Publisher will consider requests for reprints or any other reproduction | Printed by EUROPRINT a. s. facebook.com/ e15weekly Günther Oettinger European commissioner The German’s gaffes, slurs and insults have been making headlines for a quarter of a cen- tury – only last week he apologised for a “slant eyes” reference to the Chinese – but he is pre- paring for his third European commissionership. this time as the EC overseer of the EU’s budget and human resources. Pavel Bouška Owner, Vafo Holding Online shopping is right in fashion in these days – the pet food maker is the latest to decide to invest in “Shopping- -Basket.cz”. Dan Ťok Transport minister Intent on winning concessions, he is stubborn- ly pushing the plan for state ownership of train fleets and further liberalisation of the railway network.

We are experien- cing several weeks of crisis on the Czech political sce- ne. And it’s all ta- king place between the 28 October and 17 November nati- onal holidays It began back in the autumn of 1990. A petition entitled “Ukradená revoluce” [the Thieved Revolution) was cir- culated. In it certain student leaders criticised the influence of former communist structu- res on the building of the new democratic state. A  direct line then leads us to the 1998 petition called “Děkujeme, odejděte” (Thanks, But Quit), which targeted the all-too-co- sy “Opposition Agreement” between the Social and Civic Democrats. The entreaty led to some pretty large protests. The scenarios are the same: an association between certain opposition MPs and artists, and the staging of large protest ra- llies, combine into a movement which rejects a particular po- licy of the powers-that-be. But then the cracks appear as the movement transforms into a quasi-political constellation. In other words, when a start is made at divvying up influence and posts. At that moment, we usually see the same old factio- nal battles that are witnessed in the regular political parties. Unlike Poland and Hunga- ry, where this kind of rebelli- on usually has the character of street protesters clashing with police – or with counter prote- sters – the Czech direct action scene is characterised by pe- titions and counter-petitions, usually limited to two or three large cities. They sometimes have a mass protest character (for example the large-scale demonstrations in 2000 supp- orting public TV station Czech Television’s independence, or the support enjoyed by anti- -Zeman presidential candidate Karel Schwarzenberg in 2013). This leads to the formation of close ties which remain active in the years and decades ahead. And so politicians have had to learn to navigate such waves. The first politician who began to actively stir up his own counter brand of natio- nal holiday-themed rebellion was current President Miloš Zeman. It’s hardly surprising given that most of the rebel- lions since 1998 have been in opposition to either him or the kind of politics he so perfectly embodies. This year has seen an erup- tion of Czech rebellions. If we sweep away the pathetic waffle and gestures, then we get to the core: tension in the coalition government between ANO and the Social Democrats. A year before the general election, it is clear that these two parties are starting to drift apart. Andrej Babiš’s plan is clearly for ANO to replace the Social Demo- crats in the future government with a Christian Democrat/Ma- yors and Independents coaliti- on. The ANO leader’s closest Christian Democrat ally, so to speak, namely culture minister Daniel Herman, recently man- aged to take the pro-Tibet wind out of TOP 09 leader Miroslav Kalousek’s sails. At odds with the official government posi- tion, Herman organised a me- eting with the Dalai Lama on official government property. This led to a decidedly petty reaction from Zeman (he dec- lined to give a state honour to Herman’s uncle, a Holocaust remembrance campaigner), while the highest level Social Democrat politicians scram- bled to formulate a humiliating “declaration” of allegiance to totalitarian China – the story went around the world. So the prologue to the co- ming presidential and parlia- mentary elections is written. And so far, the ruling parties are the ones having it all their way. The author is a commentator at weekly magazine Reflex opinion 6/7 joke Jana Havligerová’s diary Gongs gone wrong Czech president Miloš Ze- man’s Czechoslovakian Inde- pendence Day (28 October) speech saw him relate how a diverse array of profe- ssions were represented on his annual list of state honour recipients: “We have three exceptional diplomats there, and only rarely do we see diplomats honoured, isn’t that right Mister Foreign Minister?” Evidently top Czech diplomat, namely Minister of Foreign Affairs Lubomír Zaorálek (Social Democrat), isn’t up for a state honour any time soon. Given the current makeup of the Castle, he likely wouldn’t pass the test. According to communist party leader Vojtěch Filip, it is evident that culture minister Daniel Herman lied in claiming that his uncle, Czech-Canadian Holocaust survivor Jiří Brady, was supposed to receive a state honour from the president, only to have it hastily wi- thdrawn after Herman met with the Dalai Lama. Filip has called on Herman to resign. Given the commu- nists’ recent poor electoral showing, and declining popularity among voters, it’s notable to see Filip has found a new issue to rally potential supporters. The scandal around the Christian Democrat minister’s meeting with the Dalai Lama is, meanwhile, far from over. A so-called “declaration” by the four highest Czech state repre- sentatives on the “unity of China” is causing waves. Critics say such declarations embarrassingly portray the country as acting in a subservient manner in the pursuit of closer economic ties with China. TOP 09 is threatening to block the re-election of one of the sig- natories, Milan Štěch (Social Democrat), as president of the Senate. A group of four coalition MPs spanning ANO, the Social Democrats and the Christian Democrats have presented a legislative amendment to once again alter the November 17 nati- onal holiday, currently going under the name of “The Day of Battles for Freedom and Democracy”. They propose the holiday again incorpora- tes “International Students’ Day”. Cue squabbles. Simi- lar efforts in the past have fizzled. Photo: ČTK “Two hours in our waiting room with a bunch of coughing people and screaming children. That was your stress test.“ Bohumil Pečinka It’s hardly surprising given that most of the rebellions since 1998 have been in opposition to Miloš Zeman State rebellion season here again 261555/13  inzerce

The Energy Regulatory Office is causing serious disruption in the Czech energy sector. Headed by Alena Vitásková, the ERO has again failed to publish the pricing decision determining the promotion for renewable energy sources for the next year, despite this being initially due for end of September. The pricing decision for the vast majority of “green” power plants from 2006 – 2012 is, thus, still uncertain. The Czech renewable energy sector needs stability and predictability, not repeated disruption. The ERO argues – as it did last year – that this delay is due to the ongoing inquiry on possible state aid by the European Commission (EC). From a legal standpoint, however, this argument does not hold. The EC has not issued any binding decision indicating that the promotion is unlawful. As Director of the Alliance for Energy Self-sufficiency Martin Sedlák explains “Promotion for renewable sources could only be suspended if the European Commission found it to be incompatible with the EU internal market. The text of the pricing decision on authorizing support from last December indicates the same. But nothing of the sort is under discussion, nor has the EC suggested any such thing to the Czech Republic.” An intensive consultation process was held this year, involving the Ministry of Industry and Trade and associations representing individual renewable energy sources. Lenka Kovačovská, Deputy Ministry of Industry, has confirmed that “the whole RES sector, including plants put into operation between 2006 and 2012, can be certain that the promotion is legitimate and no one is being asked to return it.” Veronika Hamáčková, Director of the Solar Association, has expressed the association’s full support to the Ministry of Industry, saying that “the Ministry of Industry did all it could during negotiations with the EC to stabilize renewable energy sources”. She added that the Solar Association itself also went to Brussels several times and that, through combined efforts and technical documentation, the EC should be reassured that “there is nothing at all wrong with Czech promotion for renewable energy sources.” This is echoed by the Czech Chamber of Commerce, which in a statement by its President Vladimír Dlouhý stressed that disruption to investors’ current expectations has a long-term negative impact on the private sector’s willingness to finance energy investments. In his words, “This could ultimately damage the Czech Republic’s reputation as a stable country with a predictable business environment.” Jaroslav Hanák, President of the Czech Confederation of Industry and Transport, also in September warned against repeating last year’s situation, underscoring that major economic losses, potential job losses and irreparable damage to the investment environment in the Czech Republic were avoided last year at the very last minute. “If the promotion is not authorized in the end, we are talking about losing thousands of jobs in energy and agriculture, hundreds of municipalities without heat from biogas stations or biomass,” added Veronika Hamáčková from the Solar Association. About the dispute over authorizing promotion for renewable energy sources: Refusal to authorize promotion for renewable energy sources primarily applies to plants installed between 2006 and 2012, but also to co-firing plants. The EC does not anticipate that promotion for sources “under review” should be suspended. A similar situation arose in neighboring Germany, for instance, where the EC reviewed the promotion system several times but it was kept ongoing. The threat of suspending promotion, therefore, makes no sense from a legal standpoint. The pricing decision issued at the end of 2015 indicates that promotion will be suspended only in cases where it would be in conflict with the Act on Promoted Sources or it would be incompatible with the EU internal market. Neither of these conditions apply in this case. Czech energy watchdog causes repeated disruption in sector with threat of not authorizing promotion for renewables

8/9 top story It was three years ago that the Czech National Bank [ČNB] began its ongoing policy of deliberately weakening the crown. The reasoning of the central bank – then under the leadership of governor Miroslav Singer – was that dangerously low inflation levels were endangering Czech economic health. But now the economy is growing at a steady pace, and low prices are proving no obstacle. Despite this, the ČNB continues to restrain the crown. But not only has the bank failed during its three-year intervention to attain its two-percent inflation target, it’s seen its policy cause many negative side-effects Miroslav Cvrček Bring back the muscular crown! Photo: archive

Taken from the magazine 0,5 % ČNB is overheating the economy The economy is performing above ex- pectations and unemployment is the lo- west it’s been since 1998. However, the ČNB continues to weaken the crown and keeping basic interest rates near zero. That is pumping more money into the economy, and creating an impression of even greater economic prosperity. In reality, the ČNB is now overheating the Czech economy. And such overheating is usually followed by a sharp slump. ČNB is inflating the real estate bubble Central bankers are inflating real estate prices. Mortgages are almost interest- -free, and large numbers of people are borrowing for homes. But thanks to the ČNB, real estate prices are now growing far faster than wages. The ČNB wants to curtail runaway price rises by limiting the share of a property value which mortgage applicants can borrow. But such policies amount to an effort by the bank to tame a beast of its own making. ČNB is out of date If indeed the currency interventions were once a valid policy choice, then such a time has long passed. Initiated in November 2013, at a time of econo- mic stagnation and a threat of deflati- on, currency intervention was perhaps an understandable instrument, in spite of widespread public and expert scepticism. But today, there is no truly good reason for the ČNB to continue to weaken the crown – except that people seem to have gotten used to it. ČNB is ignoring context The central bank launched its curren- cy intervention in order to combat the prospect of a deflationary spiral. The Polish central bank declined to initiate an interventionist policy, and its basic interest rates stand at 1.5 percent, not the near-zero found in the Czech Republic. In reality, since 2014, the central bank here has mainly been confronted by the problem of low oil prices. ČNB is ignoring inflation Since as far back as 2011, the ČNB has repeatedly insisted that “within two years” annual inflation will hit the tar- geted two percent. But like tomorrow, it never comes. This September, year on year inflation reached 0.5 percent. The problem is that these numbers do not include real estate price inc- reases, meaning the central bank is overlooking a key part of the overall picture. ČNB is causing potential immunity to stimulus The longer the ČNB essentially dopes the economy during periods of prosperity – and indeed overheating – then the risk increases that once the economy slows down, the central bank will end up pulling back at the seemingly counter-intuitive point when the economy slows. The net result will be a double economic hit. ČNB is intervening in policy-setting Nothing has helped finance minister Andrej Babiš to fill the state coffers more than the overheated economy and minimal unemployment, here courtesy of the ČNB. Furthermo- re, the central bank has become entangled in talk that the interven- tions will finally end if and when anti-interventionist President Miloš Zeman uses his stance as a rallying cry during his re-election campaign. ČNB is in a bind Ditching the current intervention re- gime would be no small undertaking. The central bank has bought euros worth around CZK 600bn, which it had to “print”. Many of these crowns were bought by speculators. That will have consequences. But even worse may be an eventual increase in interest rates. The last time central banks around the world raised inte- rest rates it led to a global recession. The Czech National Bank – why its policies should be feared Interventions and low interest rates: the winners and losers When the central bank prints money it is not simultaneously creating new wealth. Each ČNB intervention merely redistributes such cash. Which is why a weakened crown and low interest rates bring both winners and losers. And sometimes the barrier separating the two is almost invisible, or only visible for a short time. WINNERS LOSERS EXPORTERS Their goods are cheaper to sell abroad, meaning increased competitiveness EMPLOYEES (CHIEFLY OF EXPORTERS) Low unemployment is causing employers to increase wages CZECH HOTELS AND GUEST HOUSES More Czechs are holidaying at home; the weaker crown translates into less buying power abroad THOSE WHO BOUGHT PROPERTY IN TIME Czechs who bought property two years ago when mortgages were cheap and real estate prices were still low CONSTRUCTION FIRMS Demand for real estate is fuelling construction EMPLOYERS Low unemployment means higher wages to retain exi- sting staff and lure new employees IMPORTERS The goods they buy from abroad are more expensive HOLIDAYMAKERS A weak crown has increased the costs of purchasing euros or other currencies for holidays abroad TRAVEL AGENCIES Selling trips abroad has become more expensive. At the same time, Czech demand for trave- lling abroad has decreased THOSE WHO BOUGHT PROPERTY TOO LATE Sure mortgages still come with low interest rates, but house and apartment prices have gone through the roof, meaning that buyers will ultimately have to pay far more STUDENTS ABROAD Tuition fees have significantly increased for students studying abroad 5000

10/11 face to face JAN ŠTULÍK I want to pursue medicine, not sit around in political meetings As one of the best spine specialists in the country, Jan Štulík has got countless people back up on their feet. At 49, he is also one of the youngest Czech professors. An exceptional surgeon, he describes himself as a kind dictator who would be very happy to see all good medical professionals become wealthy from performing their work. But he adds that those colleagues who leave the country for a job abroad should repay some of the costs of their education Jana Bendová Photos: Nguyen Phuong Thao

Professor Štulík, from you doctors we mainly hear comments in relation to pay and leaving for work abroad. Medical professionals regularly com- plain that there is too little money in medicine and that there are too many colleagues leaving the country. Do I have things right? If you are asking about the pay earned by doctors I’d say no-one is crying their eyes out at our clinic. Compared to our colleagues at many a small hospital, we are doing quite well. And anyone inclined to do so may earn something extra by running a private outpatient surgery. But I am not a fan of that app- roach. Of course, I would love it if my colleagues could earn more. I would be happy to see every good medical professional well off and going to work mainly out of love for what they do. I can’t stand people who mean what they say when they remark: “I’d stop working if I won the lottery.” If I were to win 20 million I’d come back again the next day and work even harder and with even more enthusiasm. So you are a  supporter of the medi- cal chamber’s demand for an annual 10-percent hike in doctors’ pay? Can you name one person who would refuse a pay rise?! But I am flatly again- st blanket pay increases. That amounts to a complete nonsense. It would moti- vate no-one. There should be notable pay increases for those who are better than the others. Things can work in no other way. How do you stimulate anyone to improve in their work, in any field, if they simply get included in a wages table category, and that’s it. Not everyone is created as equa- lly good, or as equally hardworking. Anyone claiming that is the case is not stating the truth. Paying everyone the same is socialism. Do  you think there is enough money for treatments needed by patients, or is it lacking? Well, this is of course an area where you can sink in any amount of money. And sometimes the spending is rather inefficient. Such as when the hospital in Kladno decided it could not do wi- thout an observation tower. It is a fact that the sums going into healthcare are lower here than in developed econo- mies. It would help if we at least ma- naged to invest the same percentage of GDP into healthcare as countries in the West. But even so, it’s not all doom and gloom. On average, and if I look at my field of spinal surgery in particular, patients do get better care than in most western European countries. We have only 25 [spinal] surgical clinics in the country for a population of 10 million. It means that the surgeons do a lot of operations and therefore have exten- sive experience. In Germany, on the other hand, there are 700 comparable surgical clinics for 80 million people. The surgeons in Germany therefore operate less, gain less experience and the system expends vast amounts of money on revisiting botched proce- dures. What I want to say is that even the highest-quality and most expensive equipment is of no service without good enough medical professionals. And the number of surgical clinics that possess both is rather small. Does that mean that you would not consider going abroad for something better? What is that “something better”? The- re is no way we can compete with the most developed economies. We have to realise where we stand, where we were a quarter of a century ago and how far we have progressed since. The improvement has been huge. In some respects, many surgical clinics in our country are easily on a par with Swiss or German counterparts. Of course, if I want to collect a paycheck equal to that of a German or Swiss professor of medicine I’m free to go. I’ve done enough for this country in my almost 25 years of work, so I could leave it behind and go to earn more money. They’d give me a job in no time. But I don’t want to. Your career is firmly anchored here then. But your eldest son also studies medicine. Does he think about leaving the country, following in the footsteps of many of his predecessors? The young are always dissatisfied and restless. I used to be the same. They now have the opportunity to go and they simply jump at it. What I don’t like about that is that they leave soon after finishing school and there are no rules in place to govern it. Society should definitely improve its stewardship in this respect. What do you mean by that? That those leaving should pay for their tuition? There should be some form of refund. I say the same to my son. You, as a ta- xpayer, who has contributed towards their studies, should expect to be trea- ted by top-class medical professionals working in this country. You should not be expected to track them down in Germany. That is not to say I am against internships abroad; I did mine in Switzerland. But there should be some sort of a compromise in place. Of course, I would not have those lea- ving for a job abroad pay the full cost of their education as it runs into the millions. I’ve discarded this idea. But I am certainly in favour of a contribu- tion. If you stay, you pay nothing. If you leave, you contribute from your earnings in Germany. I am just shoo- ting from the hip here, but say they’d pay CZK 100,000 yearly, which is not all that much considering the pay level in Germany. I would consider it fair towards the taxpayer here. Yet the president of the medical cham- ber says young doctors should receive enough money in this country to dis- courage them from seeking better pay in Germany… How could you give say CZK 50,000 to a young doctor starting out?! The state simply can’t afford that. Heal- thcare is an immense devourer of money, perhaps one of the biggest. It can ill afford to lose money in any way, departures of educated medical professionals included. Are you not afraid that such financial sanctions for going abroad could stop the movement of people altogether if the approach spread to other fields? But, you see, I would actually be all for movement of people around the world stopping for a few months! It would give us time to catch our breath and take stock of what we have, and repeat the ABCs of our Christian values. And I say this as an atheist. When I look at the current waves of migration I wish we would take a moment to consider what we want for our country. What do you mean by that? I am a big patriot and I would favour a slightly less liberal approach at this time, especially on the border. We used to have tall fences and razor wire turned towards the inland, to stop us from climbing over and running away. What we need now is to put the fences back, facing the opposite way this time. As a  doctor, doesn’t the suffering of the people stopped by such fences bo- ther you? It does. But this is about defending the values of European civilisation and culture. Those poor people should never have left their continent. I am no racist or xenophobe, even though I suspect a little of each is in everyone. But I am, like most people, apprehen- I told my colleagues: “Boys, if I ever decide to spend my latter years in politics, give me a slap right away. That will sort it out.”

12/13 face to face sive when it comes to mass migrati- on. We were ruled by communists for a very long time and we’re fearful of anything that comes from outside. Hundreds or thousands of migrants are not a problem. Hundreds of thou- sands and millions are. Let us return to healthcare. More than a quarter of a trillion crowns of public money is spent on healthcare every year. For example, a heart transplant with ongoing care costs CZK 1.5m alo- ne. Do you think people should pay for simple, basic treatments in order to save money for these costly interven- tions? People should have the option to pay for above-standard care. Such as for an implant with extra quality. Those who want it should be able to get it, there is nothing wrong with that. Likewise, people should be able to pay extra for the option of choosing a particular surgeon. Even though the surgeon will not perform a better operation on the paying patient, some people might still feel that that is the case and why should they not go on belie- ving it? I come across this every day. Successful businesspeople, artists and sportspeople are most predisposed to believing it. I have also noticed that famous doc- tors are often surrounded by throngs of celebrities; they look after popular athletes and artists. Does that mean these people enjoy special treatment? Not at all. Everyone is free to choose the medical professional they want to look after their health. Anyone can knock on the door of any famous doc- tor. We, on the inside of the medical profession, know where to send our spouses or children, who the best spe- cialists are. The man on the street does not possess that insider knowledge. It is difficult to evaluate the quality of medical care. And when a layperson sees a specialist on the television they tend to think that they must be the best there is in their field. If they pick the most famous, such as Professors Pafko, Pirk or Beneš, they will of cour- se hit the bull’s eye from the medical point of view, no doubt about that. But that might not be the case every time. The face on the TV might easily be a blunderer like Dr. Cvach from the TV series. This pretty much sums up the way celebrities – the actors, athletes and politicians you refer to – tend to select their medical specialists some- times. We, at the receiving end, are grateful as it makes us more popular but we still treat such people as kindly as anyone else. Frankly, rare condi- tions requiring exceptional surgical treatments tend to occur with common people while the issues troubling most celebrities are usually of the trivial sort that can be adequately treated just about anywhere. Speaking of which, it reminds me of another thing I believe people should pay for out of their own pockets. Some people have a habit of seeking a third, fourth and umpteenth opinion. There’s nothing wrong with that in principle but people should certainly pay for these extra consulta- tions. There are cases when someone visits a dozen or more practices for opinions on one condition. This has become a  terrible nuisance which costs health insurers, ergo all of us, ghastly money. But you have been seen on TV and you treat famous people… And I have been told off by our se- cretary here: “For god’s sake, don’t write for any more magazines, don’t go anywhere, stop giving interviews, or we will all go mad here.” I’d been a surgeon for 15 years and no-one rea- lly knew I existed. Then I was seen on Jan Kraus’s talk show and suddenly it was all that was talked about. Not my professional qualifications, but what I said on the show. It has become ra- ther terrifying to be honest. Can you hold out and finish this one more interview? You have created a  new branch of medicine, spondylo- surgery, a  combination of orthopae- dics, neurosurgery and surgery. You operate on vertebrae, put people back on their feet, you are the “Spine Doc- tor”. What is the average Czech spine like? Is it flexible, or somewhat fragile? Neurosurgeon Vladimír Beneš says that the brain contains the essence of one’s character. If your brain was to be transplanted the recipient would be- come you. That is certainly true. And I say that the essence of the body is the spine. If you only had your brain and no spine you could probably do little more than roll your eyes. Not much, I’d say. In short, both are necessary. And if you view the Czech spine from a  philosophical or political point of view? I assume that you follow public life, that your world extends far be- yond the 33 vertebrae. Of course I do. But I would never be able to describe it better than Jaroslav Hašek in his The Good Soldier Švejk.

Jan Štulík (49) Jan Štulík is an internationally recognised specialist in spinal surgery. He is the founder of a new branch of surgery called spondylosurgery (from the Greek “spondylus”, meaning vertebra) that combines surgery, orthopaedics and neurosurgery. Štulík is the head of the Spondylosurgery Clinic of the First Faculty of Medicine of Charles University based at University Hospital Motol in Prague. On average, Štulík operates on more than 600 people a year and his team annually performs some 1,350 surgeries. Štulík was made a professor in 2010. He has authored a number of specialised publications and has devised several unique surgical procedures. He is married to his second wife and has four sons, two from each marriage. His hobbies include mountain biking, snowboarding, fast-flowing river angling and amateur car racing. His description of the Czech spine, or our stance towards the external world, is just perfect. A  number of your colleagues have gone into politics. Indeed any politi- cal party is happy to have someone on their ticket with MUDr. written in front of their name since everyone in politics knows that Czech voters respect and admire medical doctors. Have you also been targeted? Of course, I have, a long time ago. They came from Věci veřejné [Public Affairs, now defunct –Ed.] and I refused them. For starters, I was not entirely convinced about that party, but the most impor- tant thing is that I want to be a medical specialist and not sit around at political meetings. I lately noticed how it is that a number of doctors become involved in Senate elections once they reach a certain age. The next morning I told my colleagues: “Boys, if I ever decide to spend my latter years in politics, give me a slap right away. That will sort it out.” Why? What is so wrong about politics as such? Nothing. I don’t want this to sound boast- ful – although every man likes to boast – but a top surgeon should not swap what they do for politics. They should perhaps follow the example of Professor Pavel Pafko and comment on politics from the position of an independent ob- server on the sidelines, while continuing to operate on people perhaps until they are 75, with the same masterly skill that he shows and of which we are all quite envious. The order given to my colle- agues was absolutely clear: “The man with the leather medical bag must be stopped.” That is not to say that I will never change my mind. But on second thoughts, I don’t think it is really possible in my case. All it takes is seeing the sad eyes of the parent of a sick child and I forget my beloved pastimes of fishing, biking and car racing. Actually, I don’t go to the hospital to work but to enjoy it. And I’d much rather enjoy what I do than sit around at those meetings. You are also already a  professor so you can go ahead and share your in- dependent views of today’s politics. Is there anything that bothers you? Quite understandably there are quite a few things that I don’t like, it’s the same for everybody. I have, for example, trou- ble understanding why everyone is so intensely inveighing against the admi- nistrator of the Banská Bystrica district in Slovakia, Marian Kotleba. He is said to be a fascist. But he has the support of people, so his political opponents should think really hard about things instead of just slating him. Democracy is democracy. I can’t agree with Kotleba but there are dozens of other parties on the political stage so why don’t they relegate him to obscurity by attracting more voters? The communists are a si- milar bunch, except they are not on the far right but on the left. So I say, let’s accept their existence but beat them fair and square in political competition with a sound leftist alternative. Or take Mr. Babiš, that’s another phenomenon… Do you find the ANO party leader’s su- ccess impressive? That’s not the way I would describe it. There are definitely issues around his conflicts of interests. But his success is remarkable and what I’ve just said applies here as well: those who want to see the back of him in politics need to first beat him politically. You have achieved international re- cognition as a specialist, you are one of the youngest professors, and you operate on around 600 people a year. What do  you consider to be your bi- ggest success to date? Everyone asks that. It must be the surgical procedures we have devised ourselves. We are for example able to completely remove a cervical vertebra, in essence splitting a person in two with the head and spinal cord fixed in posi- tion temporarily. We then replace the missing vertebra with titanium implants to restore the continuity of the spinal column. That is certainly among our top procedures that have brought us some fame. Wherever we arrive for a de- monstration of a procedure at a medical congress... well even the Americans’ jaws drop and they say: “We thought you’d just descended from the trees but now we see you’ve been walking for quite some time and you’re eating a banana too. Peeled!” But the quality of medical care does not stand and fall with such exceptional surgery, it is rather based on relatively simple operations performed in a routine manner in the best sense of the word. Those are what make a cli- nic superior and it is essential to learn them all. That is why I keep sending our young colleagues to attend congresses as we need them to be educated and with plenty of hands-on practice. I am a kind dictator and as such I need people to like me enough to at least let me give advice at the clinic once I am unable to hold my hand steady enough to operate. Should people who risk their health doing adrenaline sports pay extra for medical care? You have operated on a number of people injured pursuing adrenaline sports and it costs a lot of money. I agree wholeheartedly. I would even venture so far as to say that participation in some sports should be removed from public healthcare coverage altogether. If we talk about those overworked man- agers, well, they spend their days sitting at their desks and in meetings, and crave the adrenaline buzz as a result. In order to make up for it they do extreme sports, such as ultramarathons, paragliding or mountain hiking, and they overdo it to make it that little bit more exciting… only to invite a disaster. Taken from the magazine

food 14/15 Lord love a duck! Photo: Nina Novák Goose or duck for your November feast? Preferably both, says the gourmet. But, having goosed you in a previous issue, let’s tackle a traditional Czech recipe for roasted duck Štěpán Vašák Slice the bacon into small pieces, chop onion and fry until golden in a roasting pan. Introduce the salted and peppered duck, add the juniper berries, Allspice and caraway seeds and bake covered at 180 °C. After 10 minutes, pour in the wine and then immerse in the broth. After 90 minutes, uncover and bake a further 30 minutes until golden. In the meantime, finely slice the cabbage and intermittently add water as you steam it until soft. In a deep pan, melt the lard and fry finely sliced onion. Add the cabbage with caraway seeds and raisins and pour in a little water. Salt, pepper, sugar and vinegar to taste. Now make the dumplings. Soak some raisins in water. Cut the rolls into small cubes, add flour and salt. Mix in egg yolk, milk and the raisins. Whisk the egg whites to a stiff mixture and add to the dumpling dough. Divide it in half on stretch foil and shape your dumplings. Cook on both sides for around 14 minutes. Duck with raisin cabbage 4 SERVINGS PREPARATION: 120 minutes 200 g English bacon 1 red onion 1 duck salt and pepper 8 juniper berries 4 balls of Allspice ½ tsp  crushed caraway seeds 200 ml white wine 200 ml  duck or poultry broth CABBAGE 1 kg red cabbage head 1 tbsp lard 1 red onion 1 tsp caraway seeds 100 g raisins salt, pepper, caster sugar, vinegar DUMPLINGS 20 g raisins 4 white bread rolls (rohlíky) 250 g semi-coarse flour 2 eggs 250 ml milk

society Corking and uncorking success for David Král The winner of the 19th edition of the Bohemia Sekt Trophée – Sommelier ČR competition was David Král from Bohemia Sekt, who was defending his title as the best wine steward in the Czech Republic. Some 19 wine professionals contested the final. They came not only from restaurants and hotels, but also from a great many producers and sellers of wine. Pavol Velič from MAKRO Akademie took the runner-up spot while third was Lukáš Benda from Vinařství Volařík. In his presentation to the expert jury, Král spoke about his knowledge of Hungarian wines Photo: Svoboda & Williams Photo: Bohemia Sekt Dozen real estate teams up for the cup The Arena Sparta – Podvinný mlýn venue in Prague’s Libeň quarter hosted the fourth annual Svoboda & Williams Cup indoor football tournament. This year 12 teams made up of teams representing well-known firms from the world of real estate battled it out. Fundraising efforts, centred on voluntary contributions and a raffle, raised CZK 144,500. The money will go to the Tereza Maxová Foundation for abandoned and under-privileged children advertising 257504/63 You can subscribe securely via e-mail Use the e-mail address weekly@predplatne.cz, State your name and delivery address. Use the code WEEK 1116 as the message subject You can also subscribe online at our website www.predplatne.cz To subscribe on a toll-free number, call 800 248 248 Simply call to provide your personal details and cite the code WEEK 1116 Full-year subscription: CZK 650 and as a gift you will receive a voucher worth CZK 1 000 The shopping voucher can be used for the product offers on Friendly Suits website www.friendlysuits.cz until 30 June 2017. Get your subscription! This subscription offer is valid until 27 November 2016 This offer is available to new subscribers only and applies while stocks last. The publisher reserves the right to provide a substitute gift if stocks are exhausted. The offer is only valid for subscriptions taken out with a delivery address in the Czech Republic. Gifts are ordinarily dispatched within six weeks of the receipt of the subscription payment. By placing an order, the subscriber expresses their agreement with the General Terms and Conditions for a periodical press delivery according to the subscription as published at www.cninvest.cz and undertakes to act in accordance with these General Terms and Conditions. By placing an order, the subscriber also expresses their consent to the storage of personal data submitted with the order (hereinafter “data”) in a database administered by CN Invest a. s., with its head office at Pařížská 130/26, 110 00, Prague 1-Josefov. This consent extends to the use of such data to provide subscription services and to the subsequent processing of the data for the purposes of offering products and services by CN Invest a.s. and/or third parties, including the forwarding of information regarding events and other activities, the use of such data for analytical purposes and/or the forwarding of commercial messages by means of electronic communication in accordance with provisions of Act No. 480/2004 of the Czech legislative code. This consent is provided for an indefinite period, i.e. until revoked in writing either in a letter delivered to the publisher’s address at CN Invest a.s., Subscription Department/ Oddělení Předplatného, Komunardů 1584/42, 170 00, Prague 7, or via electronic mail delivered to predplatne@cncenter.cz. The subscriber also consents to the processing of their data by third parties authorised for the purpose by the publisher as the administrator of subscribers’ data. The subscriber acknowledges their rights as per Sections 11 and 21 of Act No. 101/2000 of the Czech legislative code, i.e. that the provision of the data is voluntary, that the consent to the storage, processing and use of the data may be revoked at any time free of charge at the publisher’s address, and that the subscriber has the right to access the data, request the correction of data entries, have incorrect personal data blocked, have data destroyed, etc.

16 diversions A heartfelt goodbye After 150 years, a tree colonnade that lines an old coach lane between Raspenava and Krásný Les in the far north of Bohemia will be no more. The axeman cometh in order to make possible the widening of what’s been deemed a narrow and dangerous carriageway. The work is part of a Czech-Polish project named “From Frýdlant Castle to Czocha Castle” costing 20 million euros. “We’ve successfully protected four tree-lined lanes, but these trees have to be felled,” said Zbyněk Vlk from the Save the Colonnades initiative. Vlk and his fellow campaigners held a special farewell party for the colonnade. The picturesque lanes have long been a special feature of the Frýdlant area invitations picture of the week Photos: Archive Photo: ČTK GIG Alaverdi at Cross Club, Prague Alaverdi’s “mantracore” offers a positive message with a relentless heavy sound. A vegetarian superman and the okayness of gayness are two song themes. The new album is Fermentation Nation. 8 November. Free entry. GIG Glass Animals at Roxy Oxford, UK-based indie rock band Glass Animals play Prague again after two years, bringing new album How To Be A Human Being. Hip hop inspires the band’s style. 8 November, supported by London’s “industrial-spiritual” Pumarosa. CINEMA Oliver Stone’s Snowden (2016) Filmmaker Laura Poitras meets columnist Glenn Greenwald at a hotel. They are met by fugitive, ex-CIA employee and anti-surveillance hero Edward Snowden. He takes them to his room. They start documenting everything that\'s led up to this moment. EXHIBITION Jaroslav Horejc at Stone Bell House Prague’s House at the Stone Bell Gallery displays works of the Master of Czech Art Deco, Jaroslav Horejc. The exhibition ranges over both sculptures and decorative artworks by the artist, chiefly recognised for his contribution to applied arts. Until 29 January. TRIP TIP Prague Botanical Garden The botanical garden in Troja offers exotic plants, a historical vineyard, the Japanese Garden, tropical greenhouse Fata Morgana – divided into three sections simulating regions with different climates – and the “Mexico” cacti collection. About us. E15 Weekly is one of a group of business and economics-oriented publications printed by CN Invest a. s. It is a sister title to the E15 daily. Both periodicals, as well as a number of others, came under new ownership in the spring of 2016 when part of a portfolio formerly published by Mladá fronta a. s. was acquired. CN Invest a. s. publishes a broad range of print and online titles. In addition to other business-minded titles, the company also publishes lifestyle and women’s magazines (Maminka, Dieta, Moje psychologie) and children’s titles (Mateřídouška, Sluníčko). The publishing house also enjoys a considerable presence in the segment of technical and men’s online titles. CN Invest, and its sister company CZECH NEWS CENTER a. s. (the biggest publishing house in the Czech Republic, with titles such as Blesk, Reflex, Svět motorů, ABC), are members of the media concern CZECH MEDIA INVEST a. s.