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

The art of baking Bratislava rolls Photo

Vienna has Sacher torte, Budapest has Somlói galuska and Bratislava has rolls

Ján Šimunek loves Bratislava rolls, especially those filled with poppy seed.

Sagan shows impressive core exercises Video

The three-time world champion will start the new season in a month's time in Australia.

Peter Sagan

Slovak cybersecurity firm participated in global operation to disrupt malware system

Eset monitored malware and its impact on users over several years

UN committee: Slovakia still discriminates against Roma

Government should adopt measures to remove discrimination and segregation of the minority.

Moldava nad Bodvou