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Sefcovic: Eurozone Is Firm, Won't Disintegrate
Friday 26 November 2010 Zoom in | Print page
Bratislava, November 26 (TASR) - The eurozone is a firm grouping that isn't at a risk of disintegration, Slovak EU Commissioner Maros Sefcovic said after a meeting with President Ivan Gasparovic on Friday in Bratislava.
Commenting on the loan to Ireland, Sefcovic concurred with Gasparovic that Slovakia must behave like a loyal and responsible member of the eurozone. "We must accept both the negatives and the positives," he stressed.
Sefcovic noted that Slovakia's 'no' to the loan to Greece was received with surprise in the EU. "On the other hand, it's a democratic institution respecting decisions of national parliaments," he said, adding that EU representatives believe that Slovakia will now join the rest of eurozone on the €85-billion Ireland bailout.
Sefcovic is convinced that Ireland's current problems have been caused by the banking sector and long-term policies that supported its expansion. Ireland's banking sector is currently 8.5-fold stronger than the entire Irish economy.
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