Prague - Luxembourg Prime Minister Jean-Claude Juncker, who chairs a grouping of the 16 countries that use the euro, said Thursday that Europe may see a "timid" economic revival in late 2010 if new financial sector regulations and stimulus packages kick in.

"If the rules of new regulation really enter into effect and stimulus plans will be enforced on both sides of the Atlantic, I believe that we could see the first signs of economic recovery at the end of 2010," Juncker said through an interpreter during his Prague visit.

"But this revival will be very timid at first," he added.

Prague - The Czech Republic's economy slowed down significantly in late 2008, confirming that falling demand in Western Europe was choking the export-dependent economy, revised government data showed Wednesday.

The country's gross domestic product (GDP) shrunk by 0.9 per cent in the last three months of 2008 compared to the previous quarter, the Czech Statistical Office said, revising down its earlier estimate of a 0.6-per-cent contraction.

It was the first quarter-on-quarter drop in a decade, the statisticians said.

Prague - Regulators of five Central European EU states warned Wednesday against lumping them all together in the same financial basket.

"Each of the Central European states has its specific economic and financial situation and these countries do not form any unified region," said a statement issued by Czech, Polish, Romanian, Bulgarian and Slovakian authorities.

Vienna  - The tenure of Austria coach Karel Brueckner was cut short Monday, when the Austrian football association (OeFB) announced it had severed its contract with the seasoned Czech trainer after a string of losses.

The 69-year-old coach had taken over the team last July after Austria's unsuccessful showing at the Euro 2008 championships.

Led by Brueckner, Austria managed only one win against France, defeating it 3-1 in a World Cup qualifier, while drawing two matches and losing four others. Brueckner's record since last summer includes a 1-1 draw against the Faroe Islands.

Prague - US President Barack Obama and leaders of the European Union are scheduled to meet at a summit in Prague on April 5, EU presidency spokeswoman Michaela Jelinkova confirmed Monday.

The Czech Republic, which holds a rotating presidency of the 27- member bloc until June 30, has been pressing the US leader to visit Prague during his April European trip, during which he is to attend a NATO summit held jointly in France and Germany.

Prague - The European Union members who have not yet done so should
strive to meet the criteria for adopting the euro, EU Commissioner for
Economic and Financial Affairs Joaquin Almunia said on Monday.

"The euro provides a considerable shield from the worst effects of
economic turbulence, as we have seen during the current crisis,"
Almunia told a conference on economic effects of EU enlargement in
Prague.

The commissioner warned that tougher surveillance of the 16 economies
that use the euro "will have to go hand in hand" with area's expansion
in order to maintain stability.