23. September 2020 at 07:00

Congratulations, you’ve won a thousand euros!

Slovakia will get about €7.5 billion – but for what?

James Thomson

Editorial

(source: Sme - Vladimír Šimíček)
Font size: A - | A +

It’s not often your bank manager phones you up to tell you she has decided to borrow €1,500 on your behalf and wants to hand it over as soon as possible.

Even better, she proposes to present some of this amount to you as a gift, and charge you interest on the rest based on the bank’s credit rating, not yours.

SkryťTurn off ads
SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement

As a result, the rate will be close to zero or, owing to the topsy-turvy world of sovereign bonds (for the bank, in this case, is a sovereign bond issuer), even negative.

My fellow Slovak taxpayers, the lucky recipient is you!

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

SkryťClose ad