Slovakia to participate with EUR 180mn in Ireland bailout.

By bne IntelliNews November 30, 2010
Finance minister Ivan Miklos announced at a news conference that Slovakia will guarantee almost EUR 180mn in the EU loan to Ireland, news agency SITA reported. The EU finance ministers agreed on a EUR 85bn bailout for the troubled country on Sunday. Countries that participate in the European Financial Stability Facility will guarantee EUR 17.7bn and Slovakias share stands at 1%. The EU and the IMF will guarantee EUR 22.5bn each, Ireland will provide EUR 17.5bn from its reserves and Great Britain, Sweden and Denmark will guarantee the rest. The funds will be used to stabilise the Irish banking system (EUR 35bn) and to improve its public finances (EUR 50bn).

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