(MENAFN) On Wednesday, Slovakia can see the European Stability Mechanism (ESM), being changed into the European Monetary Fund. Slovak Prime Minister, Peter Pellegrini, proclaimed at a session of the parliamentary European matters committee.
Pellegrini affirmed, "Slovakia welcomes revision of preventive tools, including the European Stability Mechanism. It shows that, it has already fulfilled its historical role, and we welcome its revision, as a move in the right direction".
According to Pellegrini, the ESM has abilities, to play a more important role in stopping, not only in solving crises.
Pellegrini said, "Therefore, it might move towards a kind of European Monetary Fund, that might play a more important role in the case of shocks that we might and we probably will face, with regards to cyclicity of economic development".
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