Spectator on facebook

Spectator on facebook

Slovakia should pay €260m to permanent bailout fund in 2012

Slovakia will have to pay a first instalment of almost €132 million towards the founding capital of the European Stability Mechanism (ESM), the eurozone's new permanent rescue mechanism, within 15 days of the date when the agreement to set it up takes effect.

Slovakia will have to pay a first instalment of almost €132 million towards the founding capital of the European Stability Mechanism (ESM), the eurozone's new permanent rescue mechanism, within 15 days of the date when the agreement to set it up takes effect.

The Finance Ministry has already submitted a draft bill regulating Slovakia's position within the new rescue mechanism for review by various ministries, the SITA newswire wrote. Slovakia should pay a second instalment of almost €132 million into the rescue fund later this year. Later, Slovakia should settle further three instalments in 2013 and 2014 amounting to almost €396 million, reads a clause on impacts to the draft bill on the ESM.

To settle the first instalment, amounting to €131.8 million, the government plans to use existing state revenues without further increasing the national debt. However, to pay later instalments of the founding capital, further debt will have to be issued. In addition to the €659.2 million in five equal instalments that Slovakia will have to pay into the ESM as its paid-up stake, it will be on call to contribute more than €5 billion in extra funds, as needed.

Source: SITA

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

Another For a Decent Slovakia protest was also joined by farmers

People took to the streets for the eighth time.

Farmers with tractors awaited the protesting crowd at the SNP Square in Bratislava.

V4 politicians are not even willing to help fellow Europeans

To give equal weight to the concerns that a Slovak or Czech feels about migration with that of an Italian or Greek is like having equal sympathy for a hypochondriac and a cancer patient.

Prime ministers of V4 countries and their Austrian counterpart.

Coronations return to Bratislava Photo

This year Bratislava will recall the coronation of Leopold II, the younger son of Maria Theresa.

Bratislava will again enjoy re-enactment of coronation ceremony

Police detain another person in promissory notes case

Ex-director of private broadcaster TV Markíza, Pavol Rusko, was detained shortly after being heard.

Pavol Rusko