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I'll start with the fact Serbia's preparations for this European championship were turbulent. The injuries hit them hard and not many of their players were without problems during that time. Mihajlovic are far from ideal form and they're Serbia's top players. Let's just add that Antonijevic is out as well. Serbia are not in form, as their friendly games to Bulgaria (two defeats) and Turkey (two defeats) proved. They managed to get one win over Turkey.
Serbia admit to be favorites against the Czech Republic but it won't be easy and they will have a much tougher game to the qualifying game for WC in May. Serbia did great back then, trashed all the opponents and beat the Czechs in straight sets, by 15 points. Some of their players were in better form than now but they had Mihajovic.
The Czechs have Havelkova, they're better than in May and did well in WC qualifiers and have Grand Prix during which they tested players. They lost to Belgium closely in WC qualifiers and to the Dutch who did great there. Serbia are not the Dutch. Bulgaria beat Serbia twice away before this championship and the Czechs lost to then 3-1 by 8 points. The 17,5 is a lot. Even 15,5 is a lot. I would personally set this at 13,5. Serbia are, in my opinion, not capable of beating the Czechs. I don't think there are relevant games here but Serbia came to Azerbaijan with a lot of problems so they don't even know what to expect. It's only important that they start with any kind of a win.