Brussels, 27/04/2011 (Agence Europe) - Richard Sulik, the leader of the Liberal “Freedom and Solidarity” (SaS) party which forms part of the Slovakian Centre-Right government, is against his country's contributing to the European Stability Mechanism which, in mid-2013, will replace the current European Financial Stability Facility (EFSF). “We are here to defend the interests of Slovak citizens and not those of foreign banks which have, for a long time, been making profits on high interests on loans to irresponsible countries. … We will not be fancied in Brussels for rejecting the ESM, but taxpayers' money is more important to us”, he is reported by the Reuters agency as saying last week. The Slovakian parliament will vote on taking part in the ESM this autumn. The spokesman for Economic and Monetary Affairs Commissioner Olli Rehn declined, on Wednesday 27 April, to comment on Sulik's statements.
In spring 2010, Slovakia annoyed its partners by refusing to make any financial contribution for Greece, though it has since supported the setting up of the EFSF. The European Stability Mechanism will have €700 billion, with €80 billion paid on its creation by the countries party to the intergovernmental agreement. National contributions will be determined in the same way as participation in the capital of the European Central Bank (thus Slovakia will contribute 0.8%). The countries of the eurozone whose gross domestic product is less than 75% of the European average will be granted a reduction over the first 12 years of accession to the euro area. (M.B./transl.rt)