Slovakias share in Portugal bailout to be higher than aid to Ireland.

By bne IntelliNews April 13, 2011
The share of Slovakia in a potential bailout of Portugal will be higher than the country paid for aid to Ireland, sme.sk informed citing finance minister Ivan Miklos. Slovakia will contribute with 1.06% of the total sum, compared to a 0.99% share it had in the Irish bailout mainly due to the fact that Ireland and Greece will not participate in the Portugals rescue package. It is expected that Portugal will receive a total of EUR 80bn from the European Financial Stability Facility, the European Financial Stability Mechanism and the International Monetary Fund. Ivan Miklos also commented that the situation in Portugal is even more complicated considering the upcoming parliamentary elections in June 2011 and that the European Union should demand a commitment from all major political parties, not only the government. Slovakia participated with EUR 180mn in the EU loan to Ireland. Slovakia was supposed to participate with roughly EUR 800mn in the EUR 110bn Greek bailout package but the parliament rejected the loan. Portugal is the third euro zone country to request assistance after Greece and Ireland.
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. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    8 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. Europe unlikely to tackle Russian LNG imports anytime soon
    2 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    26 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss