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Analyst: Slovakia's Signing EFSF Makes Cutting Budget Deficit Difficult
Saturday 17 July 2010 Zoom in | Print page
Bratislava, July 17 (TASR) - As a result of the Slovak Government's consent to the European Financial Stability Facility (EFSF), the country's budget deficit will almost certainly go up, F.A. Hayek Foundation analyst Andrej Beno has told TASR.
"The politicians' task now is to cut the deficit, so by approving this commitment the accomplishment of this goal will get significantly complicated," said Beno.
According to the analyst, Slovakia will soon need to borrow funds on financial markets in order to cover its portion in the mechanism. Beno added that the use of the eurozone's guarantee package will be requested by Spain as early as this autumn, while it's probably only a matter of time before another country asks for bonds to be issued.
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