CZECH REPUBLIC The country on the eve of elections The Czech Republic experienced a major crisis towards the end of the 1990s, with a series of banks going bankrupt; since then, the country has gone through a phase of recovery, sealed in 2004 by its entry into theEuropean Union. Although it is considered an exemplary case of successful transition from a Socialist system to a market economy, the country is still experiencing some problems, from high levels of corruption to the current account and budget deficit.
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