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Clients of non-banking companies to be compensated before election

On November 13, the Sme daily wrote that the clients of non-banking financial companies that went bust in 2002 look set to be compensated in 2009 or 2010 - that is, before the next parliamentary elections due in 2010.

PM Robert Fico said that compensation won't be feasible in 2008, as Slovakia needs to work on meeting the criteria for adopting the Euro. However, he also said that "we have a moral commitment to help these people by the end of 2010." Fico is to push for partial compensation, claiming that the state should share the responsibility with the clients, who chose to enter a risky business environment.

According to Fico, the amount of compensation provided will be at least as high as "the taxes these companies paid into the state budget". Nobody knows how much this was, however. According to a former tax official, the figure is impossible to calculate at the moment, as the companies didn't tax the profits of their clients, who were responsible for making the payments themselves. No verifiable list of the clients exists, anyway. TASR

Compiled by Zuzana Vilikovská from press reports
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