| As a pluralist parliamentary representative democracy, the Czech Republic has a Prime Minister, who acts as head of government, a bicameral Parliament made up of the Chamber of Deputies and the Senate, as well as a president who is the formal head of state. In the 1990s the Czech economy began to transition from a communist economy to a market economy. Today it is considered to be one of the most successful and stable post-Communist states in Central and Eastern Europe. The Czech Republic, with its ideal location in the center of Europe and its highly-qualified workforce, attracts a lot of foreign investment which has contributed to its success. The Czech Republic has been a member of the European Union since 2004 |