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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

People marched for LGBTI rights in Bratislava

Take a look at the Bratislava Rainbow Pride 2018 that took place on Saturday, July 14.

First Slovak LGBTI activist has fought for 40 years

Czechoslovakia was one of the first countries to say homosexuality is not a crime, also thanks to the first activists like Imrich Matyáš.

Imrich Matyáš (r) met with German publicist and lawyer Kurt Hiller (second r) in Ľubochňa in 1935.

Measles might spread further west

Police will assist the vaccination in communities from where the epidemic spread.

This is why I support the Pride march

There is still a lot of work ahead of us in the United States, in Slovakia, and around the world to fight for equal rights for everyone no matter who they are or who they love, writer US Ambassador to Slovakia.

Slovakia's first Gay Pride parade crossed Bratislava's New Bridge on May 22.