NEWS BRIEFS

Slovak nouveau riche

"Last year there were 1,226 multi-millionaires and billionaires in Slovak, and 46 people had more than Sk100 mn ($2.74 mn) in one account," said Jozef Danco, an economic advisor of the Democratic Party, for the daily Národná obroda on October 15. "The industrial policy of the government, accepted in 1995, was an attempt to apply its own transformation rules, which were to enable the tunneling of former state companies." The result of this policy, Danco said, is the current high number of multi-millionaires and billionaires.

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