A pluralist Parliamentary Democracy located in Central Europe, the Czech Republic has a long and sometimes volatile history. Bordered by Poland, Germany, Austria, and Slovakia, the country is now recognized as the third most peaceful country in Europe. Its capital and largest city, Prague, is now universally defined by its rich culture, historical buildings, and youthful and exciting nightlife.
Formed in the late 9th century and ruled by the Great Moravian Empire, the country experienced numerous transfers of power until 1918 when the Republic of Czechoslovakia was formed following the collapse of the Austro-Hungarian Empire. In 1946, the Communist Party won the election and took control of the country in a coup d' tat in 1948. They remained in control until the 1989 Velvet Revolution when the regime collapsed. In 1993 the states of the Czech Republic and the Slovak Republic were peacefully formed. The World Bank had given the developed country designation to the Czech Republic.
In addition to being acclaimed as the third most peaceful country on the continent, the Czech Republic also has the distinction of being the most democratic and by some standards the healthiest country in the region. With a thriving economy, the World Bank status as a developed country is well deserved.