EC: Slovakia needs more structural reforms and stricter fiscal policy

Slovakia must carry out further structural reforms and introduce stricter fiscal discipline if it wants to adopt the Euro on January 1, 2009, an evaluation of the country's convergence plan published by the European Commission (EC) on January 30 states.

1. feb 2008

Kašický formally resigns, Baška appointed new Defense Minister

On January 30, President Ivan Gašparovič accepted resignation documents submitted to him the day before by Defence Minister František Kašický (Smer-SD). He also accepted Prime Minister Robert Fico's proposal to appoint State Secretary of the Defence Ministry Jaroslav Baška as the new Defence Minister. The proposal to dismiss Baška as State Secretary in preparation for this move was approved by the Government during an extraordinary session earlier on that day.

1. feb 2008

MPs postpone voting on Lisbon Treaty

During the Parliamentary session on Wednesday January 30th, Coalition MPs supported the proposal by Smer-SD MP Jana Lašáková to postpone the vote on the Lisbon Treaty until Thursday 5:00pm. Shortly before that, however, the Coalition voted down the proposal of opposition SDKU-DS MP Stanislav Janis to postpone the voting, after which opposition MPs left the chamber.

1. feb 2008

Weakening USD caused SPP loss but reduced foreign debt

On Wednesday, SDKÚ-DS MP and former finance minister Ivan Mikloš defended the 2002 privatization of the Slovak Gas Industry (SPP). "It's nonsense and lies," said Mikloš, referring to the informational value of a report on the SPP sale recently prepared by the Economy Ministry. According to Mikloš, the author's arguments elicit his incompetence and lack of knowledge of conditions under which big international trades operate. He refuted accusations about not insuring the risks resulting from exchange rate volatility by saying that in such cases it's impossible to insure against risks. He said that although Slovakia lost Sk7 billion (€208 million) via the exchange rate between the Slovak koruna and U.S. dollar, at the same time, expressed in crowns, the foreign debt in the U.S. dollar account fell.

1. feb 2008
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