Slovakia will back France's initiative to issue eurobonds to fund specific investment projects as well as cover debts involving eurozone countries under certain circumstances, said Prime Minister Robert Fico at a session of the parliamentary committee for European affairs on May 21, the TASR newswire reported.
"French President Francois Hollande has indicated that both project and standard eurobonds are his foremost priority and one that should lead to some sort of restructuring of European debt. Our view for now is that when this idea comes up for debate we'll stand on France's side," said Fico, as quoted by TASR. Regarding the upcoming informal summit of European leaders in Brussels planned for May 23, the prime minister indicated that some uncertainty prevails within Europe as to the agenda for the meeting and noted some lack of clarity about the shape of France's proposal.
"Speaking on behalf of the Slovak government, I'm stating that we're ready to support initiatives aimed at supporting economic growth but without putting the right objectives for consolidation of public finances at risk. Slovakia is committed to consolidating its public finances as planned, that is to achieve a deficit of 4.6 percent this year and 3 percent in 2013," Fico stated, as quoted by TASR, adding that Slovakia will back issuance of new project bonds as well as an increase in the capital of the European Investment Bank. He also stated that in "no way will we agree to the re-distribution of EU funds between EU-member countries".
"Despite the situation in Greece and the status of the permanent rescue facility ESM being serious and topical issues, they won't be brought up at the forthcoming informal summit. The issues will be broached at the official summit in the latter half of June instead," Fico stated, as quoted by TASR. But the prime minister added that the mood at this week's meeting will set the tone for forthcoming Europe-wide discussions after the change in the French presidency.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.