Czech money saves German steel
A cartoon in Süddeutsche Zeitung on Fri. made fun of the strategic partnership at Thyssenkrupp Steel Europe. Daniel Křetínský of EPH/EPCG is supposed to take a 50% stake in it as a way to make a "significant contribution to safeguarding the future of the steel industry in Germany," but the cartoon has him saying that his "innovative plan" for transforming the company along with Thyssenkrupp CEO Miguel López is a "zero-hour work week for half of the workforce." Union leaders at IG Metall are not amused and say they have been circumvented. Next door in the CR, a rescue plan that kept half the jobs at Liberty Ostrava steelworks might start looking good to union leaders and workers who are losing faith in owner Sanjeev Gupta. Thyssen and Liberty aren't related, but something's not right when a Czech businessman who made so much money on the expensive energy that helped put Liberty out of business is using some of that same money to help save the German steel industry.
Glossary of difficult words
to safeguard - to protect from harm or damage with an appropriate measure;
to circumvent - to find a way to go around (an obstacle).