BRATISLAVA, September 8, (WEBNOVINY) — President Ivan Gasparovic on Thursday signed the necessary papers authorizing Finance Minister and Deputy Prime Minister Ivan Miklos to sign the new annex to the EFSF framework agreement in Brussels, the press department of the Office of the Slovak President reported. The annex is to secure an increase in the capacity of the EFSF and extend its powers and flexibility.
The annex has the features of a presidential treaty which is, as stipulated in the constitution, an international treaty and its execution requires enactment of the corresponding bill. Consequently, after having been signed by the president, the annex will be sent to parliament for approval and subsequent ratification by the president. The vote in parliament seems to be the most difficult part of this process because the ruling coalition liberal party SaS maintains its dismissive position over the changes to be introduced by the annex. Moreover, in spite of supporting the given measures, the strongest opposition party SMER-SD has repeated several times that it would not vote in favor of the material unless the ruling coalition ensures 76 votes in the 150-member parliament.
The President of the Slovak Republic considers it necessary to advance the efforts to stabilize the eurozone and maintain credibility of the euro. Instability of the euro club afflicts competitiveness of the single-currency area and economic growth in all EU states, the statement provided by the Presidential Office states. Gasparovic perceives the EFSF as part of a comprehensive package of measures to counter the crisis. He added that eurozone countries should enhance its effect via a responsible attitude toward respecting budgetary rules and transparent fiscal consolidation.
SITA