Head of the Freedom and Solidarity (SaS) party and outspoken critic of the European Stability Mechanism (ESM) Richard Sulik has pointed to how the anticipated withdrawal of Greece from the eurozone will cost the Slovak Republic something like EUR 2.3 billion.
Sulik revealed his calculations at a press briefing yesterday, saying the money “will be wasted”. According to his calculations, the development in Greece will cost everyone in Slovakia around EUR 420 each, which Sulik pointed out was twice the amount that Robert Fico’s government is supposed to save this year. He referred to the system as “abetted suicide” and is hoping that MPs will reject the proposed system.
Sulik caught the attention of the world when Slovakia held the eurozone and world money markets to ransom, when his party stood staunchly against increasing the European Financial Stability Facility (EFSF), which was what led to the downfall of the previous government.
In an exclusive interview for TheDaily.sk in February 2012, on the subject of the ESM Sulik said:
“It’s not a good solution to try to solve a debt crisis with more new debt, and this is our core argument. Solving a debt crisis with new debts. But now it is even worse, because in the EFSF Slovakia at least had a veto, which it has no longer (in the ESM).”
“With the ESM it is necessary to have 95% of the capital and Slovakia has just 0.7%, so we are a small country and nothing will break down. It’s not true, but it was like that in the EFSF because that is how the contract was written. Every country had to join, but that is not the case now, a 95% majority is enough. The ESM is a new contract and in the beginning it was 95% and then was changed to 90% of the capital.”