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Czechoslovakia or Czechoslovak Socialist Republic is a country located in the eastern part of the continent of Europe. The capital of Czechoslovakia is Prague. Since 1918 Czechoslovakia has broken ties with the Austro-Hungarian Empire and gained independence. The total area of the country of Czechoslovakia is about 127,905 square kilometers. During the time of independence the country not only consisted of Czechs but it also had Slovaks, Hungarians and Ruthenians of considerable numbers. Even now there is a huge percentage of Slovaks residing in the country, thus along with Czech Slovak is also one of the official languages of the country. However it must be mentioned that Slovaks got independence from Czech Republic only in 1993.
Czechoslovakia was under German occupation during the Second World War and after the end of the war the country came under the influence of Soviet Union. The communist ideology entered the country with Russia and became the ruling party. With the fall of Soviet Union in the last decade of 20th century the country became independent from the shackles of communism and was declared a democracy. The agitation which had result the change was known as Velvet Revolution.
The economy of this country also witnessed a grave change after 1990s. Before this time the economy was mainly based on agriculture but after that with the change of government, fiscal policy also underwent a significant change. The most significant date in the history of Czechoslovakia is 1st January 1993 when Slovakia an integral part of the country broke away from it forming an independent nation of its own.
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