Spectator on facebook

Spectator on facebook

Committee failed to support new powers of parliament related to ESM

The Parliamentary Committee for EU Affairs has not supported new powers for MPs related to the decision-making process concerning the European Stability Mechanism (ESM) issues. The draft signed by 30 opposition deputies should bind the representative of Slovakia in the ESM with a decision of the Parliament in the vote over increasing funds in the ESM from private resources, known as leveraging.

The Parliamentary Committee for EU Affairs has not supported new powers for MPs related to the decision-making process concerning the European Stability Mechanism (ESM) issues. The draft signed by 30 opposition deputies should bind the representative of Slovakia in the ESM with a decision of the Parliament in the vote over increasing funds in the ESM from private resources, known as leveraging.

However, only six opposition MPs supported it at Monday's October 8 meeting of the EU affairs’ committee. Seven committee members from the Smer party were against it. The opposition defends the proposal saying that the increase in the ESM may lower the payback period of the means which Slovakia will put in the mechanism.

According to Freedom and Solidarity (SaS) Deputy Jozef Kollár, the ESM is ready to guarantee private investors for loss compensations of up to 30 percent of the nominal value and is also considering such a mechanism in which less solvent bonds would be purchased from public resources while the more solvent ones would be purchased from resources deposited by private investors. "This is why this proposal was created: so that such a serious vote on such a serious matter would first go through the Slovak Parliament," Kollár said, as quoted by the SITA newswire. Opposition deputies also say that based on the constitution, Slovak Parliament has the exclusive power to approve the state budget while the decision over increasing financial means in the ESM from private resources could influence the budget. However, Smer MPs consider such a measure unnecessary at present.

(Source: SITA)
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

LGBTI people in the regions: We change people’s minds

Bratislava will dress up in rainbow colours this August again, for the seventh time. This will be for the Bratislava Dúhový Pride diversity festival. But the colours of the rainbow are less bright in the regions,…

Slovakia’s LGBTI community seeks to expand their rights.

Things that make us different also make us stronger

On August 19, a rainbow flag will fly over the US Embassy in Bratislava to represent the firm commitment of the United States to defending the human rights of LGBTI people, writes Ambassador Sterling.

The rainbow flag flew over the US Embassy in Bratislava in 2016.

Blog: 5 things you should do on your visit to the north of Slovakia Photo

Here is a list of tips by an experienced tour guide - including things you have probably not tried before.

Bratislava growing high Photo

High-rise buildings sprouting up in Bratislava

Visualisation of the future skyline of Bratislava