Czechs approve €1.5 bln loan to IMF for eurozone bail-out

Despite the Czech prime minister’s reservations, coalition government approves size of loan proposed by the finance minister

Politics & Policy|Economy

Tom Jones | 25.01.2012

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Finance Minister Miroslav Kalousek is deputy leader of the center-right TOP 09, which in contrast to its coalition partners Civic Democrats and Public Affairs presents itself as pro-EU and advocates eventually adopting the eurocore, further EU integration

The Czech government has approved extending a €1.5 billion (approximately Kč 38 billion) to the IMF, principally to help enable the fund to provide bailout cash for indebted Eurozone countries. The approved size of the loan — half what the EU had wanted from the Czechs — was proposed by Finance Minister Miroslav Kalousek. The EU had called on Prague to put up €3.5 billion while many in government wanted to contribute nothing at all.

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Repulsive

Akita Inu|26.01.2012 - 10:15

The EU should just tell the Czechs to shove it and keep their lousy 1.5 billion. And strip the country of its voting rights until the full amount is paid up and the agreement is signed. Nobody needs union members like this and the Czechs must not be allowed to suck funds out of the EU (only to steal them) without being real members like everybody else. Don't like the EU? Just get out, together with Oban's Hungary.