BUSINESS BRIEFS

Csáky tackles steel overproduction

AT A MEETING in Brussels, Slovakia's Deputy PM for EU Integration Pál Csáky said that the biggest problem between his country and the EU is the issue of the overproduction of steel by the Košice-based U.S. Steel.

At the start of February the European Commission (EC) is expected to evaluate the progress of the new 10 member states, including Slovakia, in areas that it identified as problematic in November last year.

EC and Slovak officials want to solve the problem of steel overproduction by the end of February. This is expected to happen through a reduction in tax breaks for US Steel and the payment of a still undetermined cash sum out of the profits of the company, the Slovak daily Hospodárske noviny wrote on January 13.

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