Former Presidential Candidate Is Broke

In Economy on August 14, 2007 by Petr Bokuvka

Vaclav Fischer used to be the following: a successful businessman, a prototype of selfmademan, a Czech senator, the most popular Czech politician in 2000 and a presidential candidate.

Now, he is nothing of the above. He is not even Czech. As Mlada fronta Dnes daily reported, he gave up his Czech citizenship and he retained only German. “Czech Republic and its institutions were not able to protect my investments,” Fischer explained, referring to his travel-agency business, part of which were several Boeing 737’s. 

According to various court- and economy-related sources Fischer has filed for personal bankruptcy as well. He now admits to own assets worth only dozens of Czech crowns. But at the same time he lives somewhere in Germany, the daily noted. His creditors reportedly demand 1.5bln crowns.

The truth is that Fischer taught Czechs to travel. Thanks to him they found out that it is sometimes really better to fly to a holiday destination, rather than spend 12 hours on a bus. Before he started his business not many Czechs knew much about the Canary Islands. he taught them to fly planes – as passengers. Before he came, Czechs had to “prepare” for airline travelling weeks ahead.

Yes, money IS everything. Fischer’s business partners probably broke his neck. Or not. He could have saved money for retirement, he could have sold his company while it was still generating profit. None of that happened, obviously. I don’t think that the at-least-you-got-your-health consolation works for people like him…


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