Miklos plans to use privatisation to cover ESM

Finance minister Ivan Miklos announced a plan today by which the Slovak government would drum up the EUR 659 million that it supposed to contribute to the European Stabilisation Mechanism (ESM), which is earmarked for helping eurozone countries that get into financial troubles.

Finance minister Ivan Miklos (c) The Daily.sk

Miklos says there is the possibility of Slovakia getting the necessary funds from privatisation proceeds, and that he does not expect the coalition to have any problem with this.

Miklos noted that in this way Slovakia’s strained public finance deficit would not be affected, unlike the case if it had to borrow funds, as this would increase the level of state debt.

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