Slovakia’s refusal to back the Greek loan for Greece set a bad example, and the ECB should not support euro entry to applicants that may behave similarly, Reuters is reporting. (NB. We are unable to confirm these quotations, and the ECB, when asked, had no comment to make.)
BRATISLAVA/BRUSSELS, Sept 10 (Reuters) – Slovakia set a bad example by refusing support for a loan to Greece, and the European Central Bank will not support euro entry by others unless sure they will not take similar steps in the future, ECB President Jean-Claude Trichet was quoted as saying.
A memo from this week’s meeting of euro zone finance ministers, seen by Reuters, said Trichet was outraged at the refusal by Slovakia to participate in the Greek bailout.
Several EU officials said privately Slovakia could be snubbed by some of the 26 other EU member states because its decision is likely to complicate talks on the bloc’s budget, making the rich net payers less willing to grant aid to poorer countries.
“Trichet was outraged at the last Eurogroup by Slovakia’s refusal of a bilateral loan to Greece and said that had the ECB known Slovakia would behave like that, it would not have endorsed Slovakia’s euro adoption,” the memo summarising the discussion said.
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