CZECH REPUBLIC

The Czech Republic is a landlocked country in Central Europe and a member state of the European Union. The country has borders with Poland to the north, Germany to the northwest and southwest, Austria to the south, and Slovakia to the east. The capital and largest city is Prague (Czech: Praha), a major tourist destination. The country is composed of the historic regions of Bohemia and Moravia, as well as parts of Silesia. ------------------- The Czech lands were under Habsburg rule from 1526, later becoming part of the Austrian Empire and Austria-Hungary. The independent republic of Czechoslovakia was created in 1918, following the collapse of the Austro-Hungarian empire after World War I. After the Munich Agreement, German occupation of Czechoslovakia and the consequent disillusion with the Western response and liberation of major part of Czechoslovakia by the Red Army, the Communist party gained the majority in 1946 elections. Following a coup in 1948, Czechoslovakia became a Communist-ruled state. Prague Spring of 1968, an attempt at reformation of the Communist regime, ended by invasion of armies of Warsaw Pact countries which didn't leave until after the 1989 Velvet Revolution. On January 1, 1993 the country peacefully split into the Czech Republic and Slovakia. --------------------- Czech Republic made economic reforms such as massive privatization and flat tax. Annual gross domestic product growth has recently been around 6%. The country is the first former member of the Comecon to achieve the status of a developed country (2006) according to the World Bank.