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ZPS Against Financial Aid to Greece and EFSF Guarantee Mechanism
Friday 16 July 2010 Zoom in | Print page
Bratislava, July 16 (TASR) - The Slovak Government's consent to the European guarantee mechanism (EFSF) was expected, as Slovakia was under strong pressure from the EU, which sought to calm the financial markets, Association of Slovak Entrepreneurs (ZPS) president Jan Oravec told TASR on Friday.
Oravec added, however, that the approval of the EFSF represents a departure from an old principle according to which mistakes should be paid for by those who cause them.
The EFSF will now present an opportunity and a safeguard for countries to act more irresponsibly in their individual budget policies.
ZPS was one of the first organisations in Slovakia to express its disapproval with providing financial aid to Greece. "For the same reason, we have a reserved stance towards the EFSF system as well. Although Iveta Radicova's Cabinet had no option but to sign the EFSF into existence, it's good that the Government has maintained its opposing stance and has included a number of reasons why this is the case during the signing of the document," said Oravec.
"I think it's a good thing also for the discussion on how the EU and Europe should look in the future," he added.
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