Fico wants to take investment gold from the UK

The central bank disagrees with the plan, casting doubt on the arguments.

Illustrative stock photoIllustrative stock photo(Source: TASR/AP)

The investment gold Slovakia has stored in the British Bank of England should return to Slovakia. This concerns about 31.7 tonnes of gold with a total value of about €1.3 billion.

This plan was presented by Smer chair Robert Fico. As he said, more than 30 MPs will submit the proposal to parliament, asking the National Bank of Slovakia (NBS), country’s central bank, to prepare the necessary processes.

Related story:Slovak millionaires are better prepared for crisis Read more 

Fico explained the step by pointing to the potential occurrence of the financial crisis and the instability caused by Brexit. The appreciation rate in the British bank is really low, only between 0.2 and 0.4 percent, he said.

“That is nothing, it has no point at all,” he said, as quoted by the TASR newswire.

He would rather have the gold “at home” and under control. The UK cannot be trusted after Munich Agreement in 1938, Fico continued.

Non-scheduled session necessary

The investment gold has been stored in the UK for quite a long time. It was deposited there by the Czechoslovak government in order to prevent the Fascists getting at it, according to Fico. Countries like Poland, Hungary, Romania and Germany also withdrew gold from the bank and returned it to their countries, he added.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

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.

Theme: Brexit


Top stories

Gas explosion in a block of flats, emergency situation in Prešov

Five victims and 40 injured reported so far but the numbers are not final.

Former president Kiska faces charges over KTAG case

Leader of Za Ludi charged one day after charges were brought against his main rival, Smer leader Robert Fico.

Andrej Kiska

UPDATED: Fico charged with defamation and inciting hatred

If found guilty, he may spend one to five years in prison.

Robert Fico

Abortion restrictions get red-light for now

Parliament rejected the SNS' draft amendment, the latest of a number of recent attempts to restrict access to abortion.

Illustrative stock photo