Spectator on facebook

Spectator on facebook

Economists: Smer-SNS-HZDS government the worst option

THE WORST possible option for the Slovak economy would be a government consisting of the socialist Smer, the far-right SNS and the controversial HZDS, say economic analysts.

Such a government would endanger the adoption of the single EU currency as scheduled in January 2009, and would also damage Slovakia's image among foreign investors and inflate the state budget deficit, the Pravda daily wrote.

"A cabinet [formed] from the current opposition would also mean a stop to privatization. It would probably maintain state or unclear public ownership. Inefficiency, waste, and asset stripping at these companies would continue," said Ján Tóth, the chief economist of the ING bank.

The markets are reacting very sensitively to every political statement. After Smer leader Robert Fico yesterday admitted the possibility of delaying euro adoption in Slovakia should it prove disadvantageous, and announced that he would meet the SNS and HZDS first in official talks to form the government, the Slovak crown plummeted to a seven-month low of 38.25 SKK/EUR.

Top stories

Kysuce highway stalled due to missing money

Money is missing to finish the section of highway between Žilina and Poland, stopping the completion of the D3 highway project.

Road-blocking protest in Povina, Kysuce, demanding completion of highway bypass - February 16.

Slovak film won Generation Kplus section at Berlinale

The film Little Harbour that won the Crystal Bear – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak