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Stock版 - 'The Greatest Threat to Europe Is the Bailout Fund'
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话题: sulik话题: online话题: spiegel话题: euro话题: slovakia
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k********8
发帖数: 7948
1
http://www.spiegel.de/international/europe/0,1518,790577,00.htm
Only two countries, Malta and Slovakia, have yet to ratify the expansion of
the euro bailout fund. Its fate may be in the hands of a minor Slovak party
headed by Richard Sulik. In an interview, the politician explains why he
hopes the fund will fail and what he sees as the only way to save the euro.
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SPIEGEL ONLINE: Mr. Sulik, do you want to go down in European Union history
as the man who destroyed the euro?
Richard Sulik : No. Where did you get that idea?
SPIEGEL ONLINE: Slovakia has yet to approve the expansion of the euro
backstop fund, the European Financial Stability Facility (EFSF), because
your Freedom and Solidarity (SaS) party is blocking the reform. If a
majority of Slovak parliamentarians don't support the EFSF expansion, it
could ultimately mean the end of the common currency.
Sulik: The opposite is actually the case. The greatest threat to the euro is
the bailout fund itself.
SPIEGEL ONLINE: How so?
Sulik: It's an attempt to use fresh debt to solve the debt crisis. That will
never work. But, for me, the main issue is protecting the money of Slovak
taxpayers. We're supposed to contribute the largest share of the bailout
fund measured in terms of economic strength. That's unacceptable.
SPIEGEL ONLINE: That sounds almost nationalist. But, at the same time, you'
ve had what might be considered an ideal European career. When you were 12,
you came to Germany and attended school and university here. After the Cold
War ended, you returned home to help build up your homeland. Do you care
nothing about European solidarity?
Sulik: If we now choose to follow our own path, the solidarity of the others
will also crumble. And that would be for the best. Once that happens, we
would finally stop with all this debt nonsense. Continuously taking on more
debts hurts the euro. Every country has to help itself. That's very easy;
one just has to make it happen.
SPIEGEL ONLINE: Slovakia's parliament is scheduled to vote on the bailout
fund expansion on Oct. 11. How do you predict the vote will turn out?
Sulik: It's still open. The ruling coalition is composed of four parties. My
party will vote "no"; the other three coalition parties intend to say "yes.
" What the opposition says is decisive.
SPIEGEL ONLINE: The Social Democrats have offered your coalition partners to
support the reform in return for new elections. Do you think the coalition
is in danger of collapse?
Sulik: I don't see any reason why it would.
SPIEGEL ONLINE: What will you do should the EFSF reform pass despite your
opposition?
Sulik: For Slovakia, it would be best not to join the bailout fund. Our
membership in the euro zone, after all, was not conditional on us becoming
members of strange associations like the EFSF, which damage the currency.
SPIEGEL ONLINE: If the euro only causes problems, why doesn't Slovakia's
government just pull the country out of the euro zone?
Sulik: I don't see the euro as the problem. It's a good project. Everyone
involved can benefit from it -- but only if they stick to the ground rules.
And that's exactly what we're demanding.
SPIEGEL ONLINE: Which ground rules should we be following?
Sulik: We have to observe three points: First, we have to strictly adhere to
the existing rules, such as not being liable for others' debts, just as it'
s spelled out in Article 125 of the Lisbon Treaty. Second, we have to let
Greece go bankrupt and have the banks involved in the debt-restructuring.
The creditors will have to relinquish 50 to perhaps 70 percent of their
claims. So far, the agreements on that have been a joke. Third, we have to
be adamant about cost-cutting and manage budgets in a responsible way.
SPIEGEL ONLINE: Many experts fear that a conflagration would break out
across Europe should Greece go bankrupt and that the crisis will spill over
into other countries, including Portugal, Spain and Italy.
Sulik: Politicians can't allow themselves to be pressured by the financial
markets. Just because equity prices fall and the euro loses value against
the dollar is no reason for giving in to panic.
SPIEGEL ONLINE: But do you really believe that politicians can calm the
financial markets by stubbornly sticking to their principles?
Sulik: Let's just ignore the markets. It's ridiculous how politicians orient
themselves based on whether stock prices rise or fall a few percentage
points.
SPIEGEL ONLINE: You're not afraid that a Greek insolvency could mark the
beginning of the crisis instead of the end?
Sulik: No. There's not going to be a domino effect along the lines of "first
Greece, then Portugal and finally Italy." Just because one country goes
broke doesn't mean the other ones automatically will.
SPIEGEL ONLINE: Nevertheless, banks could run into significant problems
should they be forced to write down billions in sovereign bond holdings.
Sulik: So what? They took on too much risk. That one might go broke as a
consequence of bad decisions is just part of the market economy. Of course,
states have to protect the savings of their populations. But that's much
cheaper than bailing banks out. And that, in turn, is much cheaper than
bailing entire states out.
SPIEGEL ONLINE: Does one of your reasons for not wanting to help Greece have
to do with the fact that Slovakia itself is one of the poorest countries in
the EU?
Sulík: A few years back, we survived an economic crisis. With great effort
and tough reforms, we put it behind us. Today, Slovakia has the lowest
average salaries in the euro zone. How am I supposed to explain to people
that they are going to have to pay a higher value-added tax (VAT) so that
Greeks can get pensions three times as high as the ones in Slovakia?
SPIEGEL ONLINE: What can the Greeks learn from the reforms carried out in
Slovakia?
Sulik: They have to make cuts in the state apparatus. The Slovaks could also
give them a few good ideas about the tax system. We have a flat tax when it
comes to income taxes. Our tax system is simple and clear.
SPIEGEL ONLINE: One last time: Do you honestly believe the euro has any
future at all?
Sulík: I believe the euro has a future. But only if the rules are followed.
Interview conducted by Maria Marquart
c******g
发帖数: 1611
2
在浩瀚的太平洋上,散落着一群璀璨的明珠,斐济就是其中之一。

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【在 k********8 的大作中提到】
: http://www.spiegel.de/international/europe/0,1518,790577,00.htm
: Only two countries, Malta and Slovakia, have yet to ratify the expansion of
: the euro bailout fund. Its fate may be in the hands of a minor Slovak party
: headed by Richard Sulik. In an interview, the politician explains why he
: hopes the fund will fail and what he sees as the only way to save the euro.
: For reasons of data protection and privacy, your IP address will only be
: stored if you are a registered user of Facebook and you are currently logged
: in to the service. For more detailed information, please click on the "i"
: symbol.
: SPIEGEL ONLINE: Mr. Sulik, do you want to go down in European Union history

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funny comment from yahoo user..大家准备好杀猪刀吧:November Europe's Calendar Of Events
斯猪又有新花样了Breaking news: Euro Zone Finance Ministers Agree to Increase the Size of EFSF Bailout Fund
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相关话题的讨论汇总
话题: sulik话题: online话题: spiegel话题: euro话题: slovakia