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MEMO/10/368

Brussels, 11 August 2010

Statement by Commissioner Olli Rehn on today's vote by Slovakia's Parliament rejecting the participation in the loan for Greece

"I take note of the vote by Slovakia's Parliament today against the participation of Slovakia in the conditional loan arrangement for Greece. It is a breach of the commitment undertaken by Slovakia in the Eurogroup to provide temporary and conditional financial assistance to Greece. The Eurogroup’s decision was a crucial act at a critical moment to safeguard financial stability of the euro area as a whole, including Slovakia. I can only regret this breach of solidarity within the Euro Area and I expect the Eurogroup and the Ecofin Council to return to the matter in their next meeting.

Having said that, it is important to note that this development does not put in danger the loan to and the reform programme of Greece, which is proceeding rigorously according to the provisions of the EU-IMF agreement and the Memorandum of Understanding of May 2010. The Slovak Parliament vote will not have any negative implication for the disbursement of the instalments of the loan."


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