Slovakia could pay dearly for shunning Greece

Slovakia’s refusal to provide Greece with a bail-out loan could have strong repercussions for the country.

Politicians in Slovakia have been trying to play the fact down, but recent comments made by European bureaucrats in the past few days is now making them think twice. Analysts are warning that Slovakia could see retaliation from its co-members in various ways.

For example,  president of the European Central Bank, Jean-Claud Trichet, said that if the bank had known how Slovakia was going to behave, it would never have agreed to the country joining the eurozone. Other comments have been ringing out from around Europe, which analysts feel should not be taken lightly. They say that the European Union could take its revenge on Slovakia in subtle ways.

Although the EU does not have the option to punish Slovakia directly for its decision, talks on the EU budget and the allocation of EU funding, for instance, are fast approaching. The allocation of key posts to Slovak officials, or rather lack of allocation, could also be an issue.

It seems that Slovakia may just have involuntarily made itself the black sheep in the family, as other nations are bitter that they had to contribute while Slovakia did not.