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

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Austria launches random checks close to Slovakia’s borders

Refugees are using new smuggling routes, according to the Austrian minister.

Illustrative stock photo

Unemployment rate continues to decline

The still steeper fall in unemployment could be curbed by the type of jobseekers, analysts opine.

Carmakers have already complained about the lack of qualified labour.

Coalition only agrees on how to talk. But what will they talk about?

Budget talks to decide on concrete policies. Danko wants airplanes, Fico wants better pay for nights and weekends.

Danko, Fico, Bugar.