Talk of Czexit haunts the business world in Prague

In a new study carried out by the Czech-German Chamber of Commerce and Industry (ČNOPK), 83 percent of foreign investors are worried about the discussion over a law on referendum now being discuss in Parliament. The concern is that passage of the law could lead to a vote on whether the Czech Republic should remain in the European Union. Two-thirds of Czech companies are also worried about the topic, especially those with over 250 employees. If the Czech Republic were to leave the EU, one fourth of the the companies polled would consider reducing their local investments, while 28 percent would simply leave. Nearly half of the companies responded that they would be in a bad negotiating position if 'Czexit' were to come to pass. "More than 80 percent of foreign trade from the Czech Republic is based on the European Union," said ČNOPK president Jorg Matthew. "Access to the EU's internal market and the advantages associated with it are fundamental for the Czech Republic."

The nonsensical debate over the country's potential exit from the European Union is the outcome of strong showings from nationalist and Communist parties in the most recent elections. Record-low levels of unemployment and a strengthening economy failed to prevent Czechs from voting into Parliament anti-systemic parties and politicians that offer little more than anti-elite resentment and suspicion against an imaginary wave of immigrants.