The Euro Bill (Stockholm Network)

O možných nákladoch na záchranu eura,ktoré vyčíslil INESS, informoval aj londýnsky think tank The Stockholm Network dňa 14.2. 2012, ktorý združuje viac než 130 európskych think-tankov.

The Euro Bill (Stockholm Network)

The Slovak Stockholm Network member think tank INESS, the Institute of Economic and Social Studies, has calculated the total potential risk exposure related to Eurozone rescue mechanisms on per capita basis. It is published on the institute’s new project website (“eurocrisis”).

The Euro Bill summarizes total liabilities, guarantees and risk exposure created by bond purchasing programs, which were created as a part of the euro debt crisis solution efforts. The total maximal risk exposure of each Slovak citizen is EUR 1,851 as of January 2012. Of this sum, EUR 350 per capita has been already activated in the form of loans and bond purchases (compare it with per capita annual personal income tax revenues in Slovakia: EUR 321).

Their goal was to provide a simple and transparent breakdown of all mechanisms, programs and actions, which have been created in haste of numerous crisis summits during the recent two years. Despite representing substantial liabilities for countries and their citizens, many officials lose track of all the liabilities they bind their citizens with, not to say the general public.

Since there is a considerable risk of national credit rating downgrades and substantial costs for Slovak public finance in the future, it is important for citizens to understand at least the basics of what their representatives have signed.

Stockholm Network, 14.2. 2012

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