Spectator on facebook

Spectator on facebook

European Stability Mechanism Bill set to be discussed by parliament

Slovakia's cash contribution to the permanent European Stability Mechanism (ESM) will amount to €659.2 million, according to a proposed law on the ESM approved by the government on Thursday, May 31.

Slovakia's cash contribution to the permanent European Stability Mechanism (ESM) will amount to €659.2 million, according to a proposed law on the ESM approved by the government on Thursday, May 31.

The deposit will be paid in five instalments, the first of which (€131.84 million) will be paid as early as 15 days after the ESM Agreement comes into effect. The legislation has still to be approved by parliament, however. The Finance Ministry states in the material it submitted that the second instalment of the same amount will be paid later this year, probably in October. "The Slovak Republic should pay the remaining three instalments, totalling €395.52 million, over the course of 2013-14," reads the document, as quoted by the TASR newswire.

State financial assets will be used for the first instalment, so it should not have any impact on the deficit or public debt. However, for the subsequent payments, the volume of public debt financing will have to be increased, and this will have an adverse effect on Slovakia's public debt.

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

Largest companies that help search for job or employees

Not only well-known names placed in the list of the 10 largest employment agencies in Slovakia.

Employee of the ministry’s agency accused of corruption

If found guilty, the employee of the Agricultural Paying Agency may spend up to eight years in prison for taking a bribe.

Sagan wins first race of 2017 Video

The Slovak cyclist triumphed at the second race of the Belgian classics.

Peter Sagan

Queues rigged at foreigners’ police, say clients

Not our problem, say police, who blame ‘cultural specifics’ and ‘habits’ of foreigners.

Queue in front of the foreigners' police department in Bratislava.