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ECB outraged by Slovak refusal to aid Greece-sources
Date 13/09/2010 12:17  Author webmaster  Hits 999  Language Global
13 SEP 2010

By Martin Santa and Jan Strupczewski

BRATISLAVA/BRUSSELS, Sept 10 (Reuters) - Slovakia set a bad example by refusing support for a loan to Greece, and the European Central Bank will not support euro entry by others unless sure they will not take similar steps in the future, ECB President Jean-Claude Trichet was quoted as saying.

A memo from this week's meeting of euro zone finance ministers, seen by Reuters, said Trichet was outraged at the refusal by Slovakia to participate in the Greek bailout.

Several EU officials said privately Slovakia could be snubbed by some of the 26 other EU member states because its decision is likely to complicate talks on the bloc's budget, making the rich net payers less willing to grant aid to poorer countries.

"Trichet was outraged at the last Eurogroup by Slovakia's refusal of a bilateral loan to Greece and said that had the ECB known Slovakia would behave like that, it would not have endorsed Slovakia's euro adoption," the memo summarising the discussion said.

"It sets a bad example for future candidate countries. Also (he said) that the ECB would not back future euro zone applicants if there is a risk they will do something similar."

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