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.

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