The share that Slovakia must contribute to the financial loan packages designed to aid financially troubled eurozone economies is rising with every country that receives a bailout, because the stricken countries are dropping out of future rescue missions, Finance Minister Ivan Mikloš noted on Tuesday, April 12.
The eurozone is currently deciding on a bailout plan for Portugal that envisages €80 billion being required. Slovakia's share of this amount is expected to represent some 1.06 percent, Mikloš said, as quoted by the TASR newswire. "From the list of countries that are contributing, Greece and Ireland are out, and Portugal is soon to follow. The share is rising moderately, but luckily those that have dropped out are not big countries," emphasised Mikloš.
Originally, Slovakia's share of the guarantees provided by the European Financial Stability Fund (EFSF) was set at 0.99 percent. The international aid is designed to flow from other sources as well: the European Financial Stability Mechanism (EFSM, which is included in the EU budget), and the International Monetary Fund (IMF). The bailout for Portugal hasn't yet been decided on, with finance ministers of the eurozone member states only accepting Portugal's request last week.
Compiled by Zuzana Vilikovská from press reports
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13. Apr 2011 at 10:00