SaS party not support Slovakias participation in Eurupean rescue fund ESM.

By bne IntelliNews June 23, 2011
SaS party, a member of Slovakias ruling coalition, said it will not support Slovakias entry into the European Stability Mechanism (ESM) or increasing the contributions to the European Financial Stability Facility (EFSF), SITA news agency reported. However, the four ministers of SaS will probably be outvoted. Slovakia is supposed to provide EUR 7.7bn in guarantees to the EUR 779bn EFSF. The EFSF represents a system of guarantees, aimed at supporting an EU member sate, which cannot service its government debt. EFSF participation in itself would have no impact on the countrys budget deficit or government debt, unless the guarantees are called. The temporary EFSF is to be replaced by ESM in 2013. Slovakias contribution to the ESM will be EUR 5.77bn or 0.824% out of the total volume. The participation of the country has to be approved by the parliament.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Slovakia one of possible locations for new BMW plant.

German car maker BMW considers building a new plant in eastern Europe and Slovakia is one of the potential locations, Hospodarske Noviny business daily reported citing BMW's board member Ian ... more

Slovakia jobless rate edges down to 14.7% in February 2013.

Slovakia's unemployment rate in February 2013 fell for the first time in six months going down to 14.7% from 14.8% in January when it reached its highest level in more than 8.5 years, data from ... more

Frances CCN Group considers new plant in Slovakia - report.

France-based CCN Group, a supplier of components for turbines and automobiles, considers building a new plant in Slovakia in the town of Belusa, Hospodarske Noviny daily reported citing unnamed ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    10 days ago
  3. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  4. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  5. Russia’s war economy boosted by rising oil prices
    4 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    25 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    23 days ago

Reports

Dismiss