Slovakia said Tuesday it would back a second aid package for its eurozone peer Greece if it meets conditions set by the European Union's rescue fund, refuting reports that it might block the loan.
"We didn't agree with the first loan to Greece (...) but we are part of the European Financial Stability Facility (EFSF) and there are rules for every country," Slovak Finance Minister Ivan Miklos told journalists.
"If the rules are met, the loan can be approved," he added.
The German business daily Handelsblatt said Tuesday approval of a second rescue plan for struggling Greece might be delayed until later this year because of resistance within the 17-nation eurozone, pinpointing Slovakia as a likely troublemaker.
Slovakia, which joined the eurozone in 2009, was the only member that refused to participate in the first loan to debt-wracked Greece last year.
Greece, which already benefits from a support package worth 110 billion euros (161 billion dollars) backed by the European Union and the IMF, is estimated to need at least another 60 billion euros.
"It's clear that there is not only the problem of liquidity. The political willingness to meet the conditions of the first loan is questionable too," Miklos said.
"We need stronger guarantees for the second loan -- a pledge to meet the conditions from both the Greek government and opposition, a certain degree of collateralisation, a pledge to privatise, and the participation of the private sector," he added.
Source: http://news.ph.msn.com
"We didn't agree with the first loan to Greece (...) but we are part of the European Financial Stability Facility (EFSF) and there are rules for every country," Slovak Finance Minister Ivan Miklos told journalists.
"If the rules are met, the loan can be approved," he added.
The German business daily Handelsblatt said Tuesday approval of a second rescue plan for struggling Greece might be delayed until later this year because of resistance within the 17-nation eurozone, pinpointing Slovakia as a likely troublemaker.
Slovakia, which joined the eurozone in 2009, was the only member that refused to participate in the first loan to debt-wracked Greece last year.
Greece, which already benefits from a support package worth 110 billion euros (161 billion dollars) backed by the European Union and the IMF, is estimated to need at least another 60 billion euros.
"It's clear that there is not only the problem of liquidity. The political willingness to meet the conditions of the first loan is questionable too," Miklos said.
"We need stronger guarantees for the second loan -- a pledge to meet the conditions from both the Greek government and opposition, a certain degree of collateralisation, a pledge to privatise, and the participation of the private sector," he added.
Source: http://news.ph.msn.com
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