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It's part of the childhood memories of generations of Prague citizens. For more than a century, the famous wooden merry-go-round on Letna Hill has both thrilled and scared tens of thousands of children with its grinning, almost life-size horses. With eleven decades of non-stop operation the Letna merry-go-round is the oldest working carousel in Europe. It is now undergoing repairs to be soon restored to its original glory.

'We meet EU criteria, inflation has gone back down to 2.2 percent; as far as our economy is concerned we have nothing to be ashamed of' - words with which Prime Minister Jiri Paroubek greeted EU Economic and Monetary Affairs Commissioner Joaquin Almunia this week.

On Wednesday night Czech football side Sparta Prague had one last chance at redemption in what has been a truly miserable autumn season: a win over 3rd place Swiss side Thun would not have gotten Sparta through to the next stage of the Champions League, but it would have at least guaranteed the team a place in the other major European tournament, the UEFA Cup. But, it was not to be. Sparta failed to raise their game, and came up short - again.

The Czech Prime Minister Jiri Paroubek has called it the "visit of the year". On Thursday, the Chinese Prime Minister Wen Jiabao arrived in the Czech Republic for a two-day visit during which he is meeting Mr Jiri Paroubek as well as President Vaclav Klaus. Talks are expected to concern mainly economic topics but to also touch on the issue of human rights.

With Christmas just around the corner, people are taking the shops by storm looking for just the right gift to please someone. Billions of crowns are being spent on electronic appliances, jewellery, toys and cosmetics. Environmentalists have now come forward with an alternative suggestion - why not spend a little on Nature - and wrap up a primeval forest certificate as a special Xmas gift?

Since his appointment just five weeks ago, Health Minister David Rath has been at the centre of one controversy after another. After putting the state health insurer under forced administration he accused several opposition Civic Democrats of stripping its assets. In response they have filed a number of libel suits against the minister, who they say has himself been involved in dubious deals. I discussed the explosive impact of Mr Rath on Czech politics with commentator Erik Best.

Lost, stolen, sold, discovered in an antique shop, confiscated, ruined by a flood and finally restored and returned to its owner - that's the turbulent story of a 17th-century painting of a wealthy Prague burgher that was once in possession of Prague's Municipal Museum. The museum is now showing the cameo portrait whose story is just as interesting as the story of the man it depicts.

Turning fifteen is a big milestone in the life of a Czech: you reach the age of consent, you bear criminal responsibility and get a citizens ID, all regarded as a sign of maturity. Last week the chamber of deputies voted in favour of lowering the age of consent and criminal responsibility by one year, sparking a widespread debate among psychologists and the public as to whether such a move is wise.

It is the dream of every musicologist to rediscover a lost work by a great composer. This is just what happened to Eva Velicka from Prague. Four months ago while researching in the Danish Royal Library in Copenhagen, she came across the lost original manuscript of the String trio no. 1 by one of the great 20th century Czech composers, Bohuslav Martinu. On Sunday the work was performed in Prague by the Zemlinsky Quartet - for the first time in eighty years. Eva Velicka, who works at the Bohuslav Martinu Institute in Prague, came into our studio

It might have been attacked on all sides, but Tony Blair's controversial EU budget proposal has received a cautious welcome in the Czech Republic. Prime Minister Jiri Paroubek described the proposal - flatly rejected by France, Poland and the European Commission - as realistic and worth discussing. Mr Paroubek said the proposal might look like less money for the Czechs and other new EU members, but new rules for accessing structural funds would make up the difference. Ivo Slosarcik is from the European Policy Institute: