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EUobserver / Slovakia reluctant to take part in Greek bail-out

EUOBSERVER / BRUSSELS - As the Greek government awaits the first tranche of a €110 billion rescue loan, its Socialist counterpart in Slovakia has said it will not immediately contribute its share, citing doubts over Athens' ability to push ahead with necessary reforms.

"I don't trust the Greeks," Slovak Prime Minister Robert Fico told journalists on Monday (May 3), a day after the eurozone finance ministers' meeting had welcomed harsh austerity measures linked to the bail-out.

"The approval by the [Greek] government is not enough. We want to see laws approved by the parliament leading to cuts in salaries, pensions and social benefits. Until then the Slovak cabinet will not authorise its loan."

Slovakia, the latest eurozone member state, is expected to contribute as its share of the bail-out some €816 million over the next three years - a figure amounting to the annual budget of the country's interior ministry, according to media reports.

by Fran (fran at eurotrib dot com) on Wed May 5th, 2010 at 02:57:53 PM EST
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