BUSINESS IN SHORT

Slovakia and Germany have much in common

THE DEVELOPMENT in the eurozone, the need for deeper European integration, and the need for consolidation of public finances were among the issues discussed by Prime Minister Robert Fico and German Minister of Economy and Technologies Philipp Rösler. The mutual talks, attended also by Economy Minister Tomáš Malatinský and Finance Minister Peter Kažimír, which took place in Bratislava on August 24.

THE DEVELOPMENT in the eurozone, the need for deeper European integration, and the need for consolidation of public finances were among the issues discussed by Prime Minister Robert Fico and German Minister of Economy and Technologies Philipp Rösler. The mutual talks, attended also by Economy Minister Tomáš Malatinský and Finance Minister Peter Kažimír, which took place in Bratislava on August 24.

“We have exchanged very important stances over the current crisis in the eurozone,” said Fico, as quoted by the TASR newswire, adding that it is very good that the two countries “have the same opinion about further action to be taken in the eurozone, which is based on [the approach] that there are not many reasons why countries such as Greece should be allowed any delays in meeting their obligations.”

Prime Minister added that the Slovak government will certainly not agree with providing further financial help to Greece until it meets its creditors’ requirements.

The two politicians also talked about the need for deeper integration of European countries, saying it might be a remedy to the current crisis.

“I am very glad that Slovakia was assessed by the German Economy Minister [Rösler] as a country that does not only speak about the need to consolidate [the public finances], but which actually does so,” said Fico, as quoted by TASR, describing the process as painful.

Slovakia might be an example for other countries in the eurozone, said Rösler, adding it is not easy to keep the economic growth at higher levels when the country has to pass austerity measures.

“It proved that Slovakia represents this course [to have high economic growth while consolidating the public finances] not only in political debates, but also in concrete steps,” said Rösler, as quoted by the SITA newswire.

He added that the government is doing much to decrease its deficit under 3 percent of GDP.

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