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February 16, 2018 2:00 pm | FILED UNDER: europe

Czexit Would Lead to Collapse of Industry, Companies: Stredula (CMKOS)

By ČTK

Prague, Feb 16 (CTK) – Czexit would mean collapse of many segments and companies and firing of employees, and those talking about leaving the European Union mystify citizens with a possible positive outcome, CMKOS umbrella trade union head Josef Stredula said at a press conference of the Industry and Trade Ministry.

 

People talking about Czexit are not able to offer anything, Stredula said.

 

Figures say that exports to the EU member states are dominant, exceeding other territories in all aspects, Stredula said.

 

The interest in Czech exports is not so high outside the EU, Stredula said.

 

Investors cannot be expected to still be interested in the Czech Republic if the country quits the EU, he added.

 

The Czech Republic’s damage would be much larger than what it being discussed in the case of Britain, as the country is not as significant territorially nor as big economically, Stredula stated.

 

Economists and business associations think Czexit would be economic suicide, according to a recent CTK study.

 

The Czech Republic’s departure from the EU would cost hundreds of thousands of people their job, and the Czech economy would sink to the level of Belarus, some experts say.

 

Confederation of Industry vice-president Radek Spicar has said he rejects any doubts about the Czech Republic’s EU membership as it sends negative signals to foreign investors.

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