THE GOVERNMENT WILL ONLY LEND MONEY TO NONPAYERS

The government in the end will be a guarantee for nonpayers of loans. The unemployed should receive direct aid from July. The Slovak Ministry of Finance prepared, after months of discussions with bankers, a system which is yet to be approved by the Economic Crisis Commission. Prime Minister Robert Fico, at the birth of the idea to help people with mortgages, promised that the government would pay mortgages for the unemployed due to the crisis. At the end, the Ministry of Finance devised a returnable loan from the promise. Those bank clients who will get into trouble after losing a job, will be entitled to the loan. The government will only pay a part of the loan for them, directly to the bank. They will still have to pay the other part themselves. Otherwise, as bankers claim, clients would stop cairng about the loan. According to Vladimír Dvořáček, the director of the Finanacial Market Section at the Ministry of Finance, it’s still unclear what part of the loan will be paid from the state’s coffers. Same goes for the time. Then when a client is free from the worst, he will pay off this aid to Slovak Consolidation, along with interest and fees. Dvořáček didn’t want to specify how the interest will be set.  I Pg 69