Spectator on facebook

Spectator on facebook

Government approves ESM treaty

Slovakia will have to contribute €659.2 million in five instalments over five years to the European Stability Mechanism (ESM), according to the second version of the ESM treaty approved by the government on Wednesday, February 1.

Slovakia will have to contribute €659.2 million in five instalments over five years to the European Stability Mechanism (ESM), according to the second version of the ESM treaty approved by the government on Wednesday, February 1.

The ESM will be introduced in mid-2012, one year earlier than originally planned. In contrast to the European Financial Stability Facility (EFSF), which was based only on collateral provided by individual eurozone member states, the ESM will have a total subscribed capital of €700 billion, of which €80 billion will be in the form of paid-in capital, while €620 billion will be represented by committed accessible capital. The total amount of subscribed capital provided by Slovakia will reach €5.768 billion, the TASR newswire wrote. The ESM treaty is a presidential treaty, so it must be ratified both by parliament and the president before it comes into force. The Finance Ministry has pointed out that the treaty will require the setting-up of a broad framework with a wider scope than was required when joining EFSF.

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.

Top stories

Time and legislation play into the hands of prosecuted businessman

Interior Minister Robert Kaliňák is again facing suspicions that he has been helping prosecuted businessman Ladislav Bašternák.

A police car standing in front of the residential complex on Tupého Street.

Hostages to fortune

Britain will trigger Article 50 to leave the EU today. She and her EU partners should guarantee the rights of their citizens living abroad. That they have not is a disgrace.

Theresa May announced Brexit will start on March 29.

Central bank: Economy to rise by 3.2 percent

The automotive industry should contribute to the economy’s growth.

Kia Motors Slovakia in Teplička nad Váhom.

State employees to be more corruption-resistant

Ethics watchdog Transparency International Slovensko wants to teach civil servants how to report corruption and improve the protection of whistleblowers.