Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

World Bank closes its office in Slovakia

SLOVAKIA has achieved enough economic prosperity that it no longer needs a World Bank office in Bratislava.

SLOVAKIA has achieved enough economic prosperity that it no longer needs a World Bank office in Bratislava.

Shigeo Katsu, World Bank Vice President for Europe and Central Asia, arrived in the capital on June 2 to officially close the office, the SITA newswire wrote.

During his stay, he met President Ivan Gašparovič, Finance Minister Ján Počiatek and other state representatives.

“We would like to congratulate the Slovak Republic on its huge success. Soon, Slovakia is awaiting eurozone entry, which is one of the biggest signs of this success,” Katsu said after the meeting with Gašparovič.

Katsu described the institution’s cooperation with Slovakia as very good and expressed his belief that it will continue despite the closure.

Slovakia’s transformation will serve as an example for other countries, such as those in the Balkans, Katsu added.

President Gašparovič suggested a more specific form of cooperation with the World Bank.

“We know that a centre for Europe, Asia and Africa is to be established somewhere in Central Europe,” he said. “That is why I have asked the vice president to keep Slovakia in mind. We would gladly take up this role, as our cooperation has been on a very high level.”

Top stories

How did Communism happen in Czechoslovakia?

For the 40 years, Czechs and Slovaks would celebrate February 25 as Victorious February, even though the enthusiasm of most of those who supported Communists in 1948 would very quickly evaporate.

Prime Minister Klement Gottwald (right) swears an oath into the hands of President Edvard Benes on February 27, 1948 at the Prague Castle.

Cemetery with a remarkable creative concept Photo

The shapes of tombstones were prescribed until 1997

Vrakuňa Cemetery in Bratislava

Being young is harder than it used to be

The failure of older generations to sympathise with youth means politics are primarily a contest of who can hand out more gifts to old people.

Young Slovaks have problems finding proper jobs.

Historian: After 1948, Czechoslovakia was paralysed with fear

On February 25, Czechs and Slovaks mark 70 years since the rise of Communism in their common state. Historian Jan Pešek talks about the coup and its aftermath.

Demonstration in Prague, Wenceslas' Square, on February 28, 1948.