Monthly Archives: August 2010

The Brussels blog is taking a break over the holiday season and will return in the European autumn.

Thanks for your comments and for your readership.

Greece has got a pat on the back in its first post-bailout report from the European Commission, the ECB and the IMF. “The programme is off to a very strong start,” they said in Athens. So that should be a green light for the next €9bn tranche of the total €110bn rescue package to be paid out next month.

But there is a fly in the ointment. Plucky little Slovakia, a eurozone member state that knows all about tough austerity measures, is refusing to sign up for its contribution to the rescue plan.

In spite of fierce pressure from Brussels, the new government in Bratislava is adamant that it would be wrong to pay its hard-earned taxpayers’ money to another eurozone member that has “consistently carried out irresponsible fiscal policy.” It is prepared to back the European Financial Stability Facility – the €750bn standby rescue package set up to stop contagion from the Greek crisis – but not the original Greek bailout.