EU Commissioner for Economic and Monetary Affairs and the Euro Olli Rehn didn't put Slovakia on the list of the member states facing the so-called excessive deficit procedure (EDP). [Excessive deficit procedure (EDP) means that a member state exceeds the deficit ceiling set by the Stability and Growth Pact] Finance Minister Peter Kažimír informed after the Council of European Union for Economic and Financial Affairs (Ecofin) that took place on Tuesday.
“I can say with pleasure that Slovakia hasn't been mentioned as one of the countries that could have problems. I think this is an important evaluation for Slovakia,” said the minister. According to him, various countries are getting into a situation where they won't be able to meet the rule of 3 percent [of GDP] due to their shrinking economies and decelerating GDP growth. Moreover, the group of these countries is getting bigger. However, Kažimír believes that it is possible that due to the Europe-wide recession, member states will be allowed to postpone the deadline for leaving EDP without the threat of fines.
Lucia Pazičová
