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Miklos Signs Framework Agreement on EFSF
Thursday 15 July 2010 Zoom in | Print page
Bratislava, July 15 (TASR) - Slovakia's Finance Minister Ivan Miklos on Thursday signed a framework agreement on the European Financial Stability Facility (EFSF), head of the ministry's communications department Mikulas Gera told TASR on the same day.
Miklos's signing follows the consent that the Government gave to the agreement at its extraordinary session earlier in the day.
Slovakia's definite participation in the project is still subject to ratification in Parliament and the signature of President Ivan Gasparovic, however.
According to Slovak Prime Minister Iveta Radicova, by okaying EFSF the new Government didn't reverse its originally negative stance towards the project. Radicova noted that the agreement concerning Slovakia's participation in EFSF is conditional.
"The Government has backed the political declaration confirmed by the previous government in May, and adopted a resolution with specific demands under which Slovakia will actually take part in fulfilling the mechanism," said Radicova.
The €750-billion EFSF is a legal instrument that eurozone-member countries and the International Monetary Fund (IMF) have agreed on in order to ensure financial stability across Europe and preserve the euro currency.
Slovakia's portion of the emergency rescue package stands at €4.4 billion.
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