Monday, July 12, 2010

Sticking to your guns

The new Slovakian government is not bowing to pressure over its refusal to sign off on the eurozone bailout package. After a meeting with European Union Council President Herman van Rompuy tonight, Slovakian Prime Minister Iveta Radicova said, when asked about her view of the Slovakian contribution to the EU's €440 billion eurozone aid mechanism (still to be finalised) and the €110 billion bailout of Greece:

"The position of our minister of finance and also my personal and our political party [position] is as it was before, that we really do not agree, we really do not agree."

Crucially, according to Reuters, Radicova said her Cabinet would only meet to discuss the issue on Wednesday, meaning Slovakia would not be in a position to sign off on the €440 billion aid package when EU finance ministers meet to discuss it tomorrow.

To say that the Slovak Finance Minister, Ivan Miklos, will come under pressure at tomorrow's EU meeting is most definitely an understatement.

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