Seeking Alpha

"The greatest threat to the euro is the bailout fund itself," says Richard Sulik, the leader of...

"The greatest threat to the euro is the bailout fund itself," says Richard Sulik, the leader of Slovakia's SaS party that is attempting to vote down EFSF expansion. "It's an attempt to use fresh debt to solve the debt crisis," he continues. "It's ridiculous how politicians orient themselves based on whether stock prices rise or fall a few percentage points." (previous)
Comments (11)
  • The Geoffster
    , contributor
    Comments (4013) | Send Message
    A politician telling the truth is a rare animal indeed.
    9 Oct 2011, 09:01 PM Reply Like
  • coddy0
    , contributor
    Comments (1182) | Send Message
    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?
    9 Oct 2011, 09:43 PM Reply Like
  • Native Texan
    , contributor
    Comments (-724) | Send Message
    This guys sounds like a fan of the Tea Party, I like him!!
    9 Oct 2011, 09:47 PM Reply Like
  • wolverine27
    , contributor
    Comments (412) | Send Message
    how long before they make this guy fall in line ?


    amazing badge of courage to state the truth.
    9 Oct 2011, 09:55 PM Reply Like
  • Native Texan
    , contributor
    Comments (-724) | Send Message
    Soon, very soon.
    9 Oct 2011, 09:59 PM Reply Like
  • mike mohr
    , contributor
    Comments (452) | Send Message
    Goldman will buy him soon.
    9 Oct 2011, 10:14 PM Reply Like
  • deercreekvols
    , contributor
    Comments (5758) | Send Message
    A voice of reason coming from Slovakia?


    There is no way one could dream this up!
    10 Oct 2011, 12:08 AM Reply Like
  • TomasViewPoint
    , contributor
    Comments (4845) | Send Message
    Another way I heard the Euro crisis described is that there is not lender of last resort left in the Euro zone. Therefore the debt crisis cannot be seriously solved by more debt because nobody can really absorb much more.


    Coming to the US soon.
    10 Oct 2011, 12:32 AM Reply Like
  • John_DeVita
    , contributor
    Comments (180) | Send Message
    Countries Poorer than Greece will demand bribes or gifts. There is no way Greece can be granted 50% debt forgiveness on 489B EU of debt, or simply given 240B EU for free, without the Slovakias, Slovenias, Lithuanias, Spains, Portugals, Irelands, Lithuanias, Estonias, Rumania, Estonias, Cyrprus and Polands of the world demand similar gifts. and the EU does not have enough money to cover their half of their bonds for free.
    10 Oct 2011, 12:36 AM Reply Like
  • davidbdc
    , contributor
    Comments (3165) | Send Message
    Good for Slovakia! I was fortunate enough to spend some time in the country and they implemented many structural reforms in order to qualify for the Euro (I still have Slovak Koruna sitting at home!). They shed bureaucrats, they brought government social programs in line to reduce their deficit, they privatized many state industries, etc, etc. Now why in the world would they agree to give money to a country that WON"T do those things???


    I hope the SLovaks stand strong and tell the Greeks to pound sand!
    10 Oct 2011, 01:33 AM Reply Like
  • User 487974
    , contributor
    Comments (1105) | Send Message
    Yes, I agree totally Geoffster,
    The truly sad part is how foolish all the markets and pundits will take the nonsense coming out of MERKOZY as gospel and run with it.
    To hear only what they want and disregard the rest(until it bites them in the ass), is just lunacy!
    Will Greece make it to the end of the week?
    Don't they have some little debt repayment coming due,at the end of said week?
    Classic mis-direction, look there,not here!
    But it is worthy news to have one MAN, Richard Sulik, stand up and tell the world,"It is broken and this will only make it worse",I am paraphrasing,but you get the point!
    The Euro should be much,much lower, this will not end well for them and all the people who are relying on a bunch of crooked politicians who can not even find "RELIGION" when staring down certain destruction!
    Let Greece out of the failed experiment and try and save as much as you can!
    One way or another, German and French banks are going to be hit hard with all the worthless Greek paper they hold!
    Merkozsy should stand tall, stand proud and admit this was a mistake that needs to be addressed, not try to play "Pull the Wool over the worlds eyes"!
    10 Oct 2011, 01:41 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector