Slovakia turns to FT for comfort over Greek bailout
Amid strong criticism from the EU for refusing to participate in the Greek bailout, Slovakia's foreign ministry has republished on its website a Financial Times commentary seen as defending the country's decision, but apparently without asking for permission. EurActiv Slovakia contributed to this article.
Background
Eurozone member Slovakia decided to submit to parliament the decision on whether to provide financial aid for debt-laden Greece.
Crisis-hit Greece won eurozone finance ministers' approval on 2 May to draw €110 billion in bilateral loans over the next three years from eurozone countries and the International Monetary Fund (EurActiv 03/05/10).
Then Slovak Prime Minister Robert Fico, who had expressed doubt about Greece's ability to implement the required savings measures, reiterated his earlier warning that the Slovak portion of the aid – around €800 million – would not come automatically.
Slovakia became the 16th member of the euro club on 1 January 2009 (EurActiv 05/01/09). The country left behind the remaining 'Visegrad Four': the Czech Republic, Poland and Hungary, which are at different degrees from joining the euro zone.
A bad translation of Quentin Peel's op-ed 'The Greek rescue plan: A fly in the ointment', published in the Financial Times, appears on the homepage of the Slovak Ministry of Foreign Affairs. Contacted by EurActiv.com, the FT was surprised to learn about the unauthorised re-publication.
Commenting on the Slovak parliament's decision not to spend hard-earned taxpayers' money on bailing out a fellow eurozone member that has "consistently carried out irresponsible fiscal policy," Peel argues that the move would be seen with sympathy in Germany, despite Berlin's official position of disapproval.
This, however, is the only message that could be seen as positive from the Slovak government's perspective.
Peel's op-ed is in fact critical of the new Slovak government led by Iveta Radičová (EurActiv 16/06/10), as he writes that her liberal-conservative coalition has created "embarrassment" in Brussels.
The coalition parties, two of which are affiliated to the centre-right European People's Party and a third which is seeking liberal ALDE affiliation, recommended their MPs not to support the loan.
Opposition party SMER - affiliated to the Socialists & Democrats - supported it, but did not take part in the vote. As a result, the ballot, held on 11 August, rejected the nation's participation in the Greece rescue package, with 69 votes against and one in favour amid 14 abstentions. There has been one more vote in favour of the loan, by MP Sabolova, but later she said she had pressed the wrong button.
As agencies reported, Germany criticised Slovakia for its decision not to participate in the bailout loan to Greece, saying that European Union solidarity is "no one-way street".
"We regret that Slovakia isn't participating in the aid to Greece," a spokesperson for Chancellor Angela Merkel was quoted by Bloomberg as saying. "All member states committed themselves politically to assistance for Greece. Every member relies on solidarity; solidarity is no one-way street," the spokesperson added.
Economic and Monetary Affairs Commissioner Olli Rehn issued a strongly-worded statement regretting the "breach of the commitment undertaken by Slovakia in the Eurogroup to provide temporary and conditional financial assistance to Greece".
"I can only regret this breach of solidarity within the euro area and I expect the Eurogroup and the Ecofin Council to return to the matter in their next meeting," Rehn states. Those meetings take place on 6 and 7 September.
Positions
Slovak Finance Minister Ivan Mikloš (SDKU-DS/European People's Party-affiliated) said: "When it comes to solidarity between the rich and the poor, responsible and irresponsible ones, of taxpayers and bank owners or managers, I do not consider this as solidarity."
"It's true that our attitude angered highly-placed politicians in the euro zone, but that's only because they had behaved irresponsibly and we held out a mirror."
Slovak Prime Minister Iveta Radičová (SDKU-DS/EPP-affiliated) said: "Yes, we were the only ones who said 'no' loudly. But I'm sure that 'no' was in the heads of all representatives of the EU countries [...] What should I tell our citizens, that we should help those who aren't willing to help themselves?"
"Members of the national Council of the Slovak Republic (parliament) voted on the loan to Greece; the MPs who are directly elected to the National Council by the citizens. I expect EU representatives to respect democratic principles, and that means also the voting of MPs."
"The result [of the vote] is based on principles and values and was expected before for a long time. It is a result of the consciousness and vote of freely-elected MPs. The EU should also respect the principles of parliamentary democracy, and I suppose it does respect them, so there is nothing for which the Slovak Republic could be sanctioned, because it is respecting all its obligations and it has maintained solidarity from the very beginning. We are contributing to the IMF, to development assistance, as well as to European funds."
Slovak MP Anton Marcincin (KDH/EPP-affiliated), who voted in favour of the loan, said: "We have heard voices in the parliament that it is a failure of the Greeks that they could blame only themselves, and nobody should pay them anything. But according to this logic Brussels should not send us any money anymore for catching up on living standards. I mean, we had communism here which decreased our living standards, and that is also our fault."
Richard Sulik, president of the Slovak parliament (SaS, seeking ALDE affiliation) said: "I am proud that Slovakia will be the only country in the euro zone to follow good sense and will prove that things can be done differently."
Next Steps
- 6-7 Sept.: Eurogroup and Ecofin Council to return to the matter.
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