Posted by on 28 Mar 2011. Filed under Politics, Top news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Sulik: maybe use EU funds to contribute to the ESM

The SaS party is not happy with the proposed contribution of Slovakia to the new bailout fund, the European Solidarity Mechanism (ESM).

Richard Sulik (c) The Daily

Head of the SaS, Richard Sulik, has even proposed trying to use European funds to finance Slovakia’s contribution to the ESM, as Slovakia is far from drawing what it is entitled to. Sulik admits that although the concept might be total nonsense, it could be worth a try.

The SaS is not happy with the new ESM as it demands direct deposits from member states, whereas the previous system, the EFSF, only required guarantees in the event of need. The party feels that the EUR 659 million that Slovakia is to contribute could be used for other more important things, rather than sitting in the European Central Bank.

The final shape of the ESM was agreed on by finance ministers of eurozone states last week, much to the discontent also of the opposition. There is a possibility that the combined objections of the SaS and the opposition will see Slovakia obstruct the new mechanism if it is not endorsed by parliament, but this is something that Sulik would like to avoid.

1 Comment for “Sulik: maybe use EU funds to contribute to the ESM”

  1. [...] support the ESM proposal Head of the liberal SaS party Richard Sulik already started to express his concerns last week about the EU’s new bailout fund, the European Stabilisation Mechanism (ESM), and now having [...]

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