Spectator on facebook

Spectator on facebook

Government approves increase in Slovakia's EFSF guarantees to €7.727bn

The guarantees provided by Slovakia within the EFSF bailout mechanism should be increased from €4.371 billion to €7.727 billion, according to a proposal approved by the government on Wednesday, September 28. The Slovak government at the same time recommended that parliament deal with the change via fast-tracked legislative proceedings. However, the government still appears to lack enough votes in parliament to push the measure through, given the opposition of one of the coalition parties, Freedom and Solidarity (SaS).

The guarantees provided by Slovakia within the EFSF bailout mechanism should be increased from €4.371 billion to €7.727 billion, according to a proposal approved by the government on Wednesday, September 28. The Slovak government at the same time recommended that parliament deal with the change via fast-tracked legislative proceedings. However, the government still appears to lack enough votes in parliament to push the measure through, given the opposition of one of the coalition parties, Freedom and Solidarity (SaS).

"If Slovakia doesn't adopt the necessary legislation in the shortest time possible, it could endanger the whole mechanism of financial stabilisation assistance," said Finance Minister Ivan Mikloš, as quoted by the TASR newswire. In arguing his case, he pointed out that delay could have a considerable impact on the international commitments adopted by Slovakia as part of its eurozone membership. The EFSF will have a direct impact on Slovakia's budget if the countries that are lent money via the EFSF are later unable to repay it.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

People marched for LGBTI rights in Bratislava

Take a look at the Bratislava Rainbow Pride 2018 that took place on Saturday, July 14.

First Slovak LGBTI activist has fought for 40 years

Czechoslovakia was one of the first countries to say homosexuality is not a crime, also thanks to the first activists like Imrich Matyáš.

Imrich Matyáš (r) met with German publicist and lawyer Kurt Hiller (second r) in Ľubochňa in 1935.

Measles might spread further west

Police will assist the vaccination in communities from where the epidemic spread.

This is why I support the Pride march

There is still a lot of work ahead of us in the United States, in Slovakia, and around the world to fight for equal rights for everyone no matter who they are or who they love, writer US Ambassador to Slovakia.

Slovakia's first Gay Pride parade crossed Bratislava's New Bridge on May 22.