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Slovak Official Says EU Should Allow Debt Defaults

Service : Economy
TEHRAN, April 5 (ICANA) – Slovak Parliament speaker Richard Sulik says he is opposed to the eurozone's future bailout fund, saying countries in financial trouble should be allowed to default on their debt.
Tuesday, April 05, 2011 1:29:10 PM
Slovak Official Says EU Should Allow Debt Defaults

According to AP, Sulik says bankruptcy is the only solution for countries which are unable to meet their financial obligations and "not to repeatedly create new and new rescue mechanisms."

In an opinion piece for Monday's edition of business daily Hospodarske Noviny, Sulik says Slovakia, which adopted the euro more than two years ago, will have to borrow money to contribute to the fund that will start in mid-2013.

Sulik says "to call that solidarity is perverse."

He heads the Freedom and Solidarity party that is part of the four-party, center-right governing coalition.

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