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.

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

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss