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Rehn Confident That Slovakia Will Deliver on Promise vis-a-vis Greece
Wednesday 05 May 2010 Zoom in | Print page
Brussels, May 5 (TASR) - European Commissioner for Economic and Monetary Affairs Olli Rehn on Wednesday expressed his firm belief that Slovakia will keep its pledge and participate in rescuing Greece's public finances.
"I'm confident that Slovakia will live up to its pledge regarding financial assistance for Greece under the agreed system. I don't doubt that Slovakia will assume its share of burden," said Rehn.
Slovakia, according to remarks made by Prime Minister Robert Fico this week, will lend €816 million out of the eurozone's total of €80 billion only if the pronouncements of Greek officials about recovery measures are backed up by legislation. According to the deal reached by eurozone ministers, Slovakia is supposed to lend €306 million this year.
Fico said that his Cabinet wants to protect Slovaks' bank deposits as well as the euro and financial stability in the eurozone, but must also see guarantees that Greece will do its homework. Any lending decision is tied to cuts in social benefits that Greece can't afford. The premier isn't convinced by the fact that the Greek Government has approved such measures, doubting its will to implement harsh austerity measures.
"We want to see laws approved by the (Greek) Parliament - ones that would confirm that salaries would be cut by 25 percent, that pensions would go down, and that all amenities that aren't backed by the performance of the Greek economy will be removed. Until then, the Slovak Government will not discuss any bilateral financial loan," underlined Fico.
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