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

Top stories

In the Tehelné Pole zone, the pilot parking policy will be replaced by the city-wide parking policy.

Bratislava gears up for city-wide parking policy

Parking will first be regulated only in parts of Nové Mesto and Rača boroughs.


17 h

News digest: Slovakia records highest number of positive cases since mid-April

Covid spreads mostly in schools. Bratislava ring road stretches to open on Sunday. Slovak water slalom athletes successful at world championships.


17 h
arrested Pavol Ďurka of NAKA specialised team Purgatory heading to Bratislava' district court.

How an anti-team dismantled an elite police team with the help of the secret service

Hints of a possible coalition break-up over rule of law not materialising for now.


21. sep
In this photo taken from video, Slovakia's President Zuzana Čaputová remotely addresses the 76th session of the United Nations General Assembly in a pre-recorded message, Tuesday, Sept. 21, 2021 at U.N. headquarters.

President to the UN Assembly: Where scientists succeeded, politics is still failing

Zuzana Čaputová recalled the words Pope Francis addressed to Slovak youth during his recent visit to Slovakia.


22. sep
Skryť Close ad