Czech Political Stalemate Stalls Necessary Budget Cuts.

BLOOMBERG/
The political impasse over early elections in the Czech Republic is preventing the interim government from taking steps to reduce the budget deficit.
The Czech Republic is heading for a budget SHORTFALL of 7.4 percent of GDP this year and the deficit will remain at that level in 2010 if politicians “remain passive,."

Czech Court Cancels Election.

BLOOMBERG.COM.
The Czech Constitutional Court invalidated President Vaclav Klaus’s call for a parliamentary ballot on Oct. 9-10, deepening the political turmoil over holding early elections and risking a budget crisis.
The political crisis would leave the country with a provisional 2010 budget without necessary spending cuts.