Czech Government To Resign As Rift Grows Over Finance Minister's Dealings

By Carla MozeeMarketsMarketWatch Pulse

The Czech Republic's government will resign, reports said Tuesday, with the move stemming from a rift between Prime Minister Bohuslav Sobotka and his finance minister, who's been surrounded by questions about his financial dealings. Sobotka, head of the Social Democratic Party, announced the move and said he will hand the resignation motion to Czech President Milos Zeman this week. Finance Minister and billionaire Andrej Babis has faced questions from Sobotka and other government officials about his income and possible tax avoidance. The resignation would come ahead of parliamentary elections in October and Babis's centrist ANO party is holding a lead over Sobotka's party in polls, reports said. The dollar was up fractionally against the Czech currency, buying 24.641 koruna, after the resignation news.

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