Česká tisková kancelář
Urgency: At 4:16 AM, minutes after a vote to re-nationalize private assets, the military, law enforcement and people's militias occupy assets owned by most foreign persons. Temporary restrictions on leaving the country declared.
Earlier today, at an emergency meeting of the National Assembly, the MPs voted for nationalization of all private assets. President for Life, Albína Reiserová held a speech before the National Assembly today, in which she said that the building of socialism in the state exceeded the plans, as the standards of living were rising faster then anticipated. Due to this, the nation is ready to move beyond the primary stage of socialism and nationalize private assets, in order for economic development not to slow down, but to release its full potential.
"However, not all took part in the building of socialism. Many foreign-based corporations did not contribute to this goal. On the contrary, they attempted to extinguish the revolution and force their demands on us, so that they could restore capitalist system of injustice and exploitation. But for the first time, these vampires have run into a firm wall. A wall of Socialist Republicanism. Now they will be taught what does the fact that all power belongs to the workers mean. The proposal would nationalize the assets of these foreign persons immediately. The parasite will be removed from our land!" the President said on the issue in the National Assembly.
Majority of the foreign based companies are subjected to immediate nationalization, including notably the Duchian Roscoes' and TUI Abbott, the Spanish Astilleros Amado, Llongueras, Meliá, Santander, Ferrovial and Sacyr, the Reitzmic Samsung and LG or the Inimican Artabanos Foundation and its subsidiaries, most notably Impchem. The legislation concerns also shares of stocks in public companies. The only privately owned assets and shares not subjected to immediate nationalization are all based in Inquista, Yosai and Brickston. No person based in these three states is a subjected to immediate nationalization and the President for Life has confirmed that these assets will be nationalized only after a deal is reached with their owners.
All domestic privately owned assets will be nationalized on 3 April 2024, with the exceptions of small and medium enterprises in farming sector, which will be nationalized on 3 June 2024, and small and medium enterprises in fishing sector, which will be nationalized on 3 April 2025.
All foreign persons subjected to immediate nationalization will be compensated for 70% of value of their property in bonds at their current value, determined by the Czechoslavonic Statistical Office. All other persons will be compensated for 100% of value of their property at the value at the time or nationalization, determined by the Czechoslavonic Statistical Office. The new legislation also lists "complicating or frustrating the process of nationalization" among the violations of the legislation, for which all compensation would be forfeited. The Leader of the Alliance of Independent Mayors and Civic Democrats Vít Sršeň criticized this, as, according to him, there is no definition of the "complicating or frustrating the process of nationalization", leaving it open for determination. He considers it to be a tool to be used against any potential government critic, or even a critic of re-nationalization.
Furthermore, the legislation lowered the standart working week from 35 hours to 32 hours.
Mere moments after the proposal was adopted, will all representatives of SRP voting for the legislation, all representatives of the CPCS abstaining, and all other representatives voting against, the military, law enforcement and people's militias seized a large number of these assets, and these seizures continued for few following hours. All workers were given a free day, so that the workplace administrations could be reorganized.
Temporary restrictions on leaving the country were declared, with increased controls and request at a new permission to travel out of the Democratic Republic. The situation at the borders and airports is expected to return to normal in the coming days.