About EuroCrisis by INESS

News about the economic situation in EU is flooding media day by day. However, a specialized portal bringing all important news and expert commentaries on one place was missing in Slovakia. Since we in the INESS Institute believe that the Euro crisis will unfortunately last for years more, we decided to launch the website eurokriza.sk.

The site aims to bring expert information in non-expert language to Slovak citizens. Besides publishing daily articles, we syndicate interesting links from other sources, update the Crisis Timeline and explain basic economic terms in the Crisis Dictionary.

The unique feature is the Euro Bill. Inspired by our projects The Price of the State and The Bill for Government Services, we decided to calculate the total potential exposition to risk related to Euro rescue mechanisms on per capita basis (see methodology at the bottom).

There are regularly updates graphs with the ECB money supply, the ECB holdings of bonds for monetary purposes and graph with the structure of ECB assets. Furthermore, we inform about the actual inflation tax, defined as [HCIP(t)/HCIP(t-1) -1]*12 – [average interest rate on current account].

You are welcome to join our RSS, Twitter, and Facebook fanpage. While the majority of our commentaries is written in Slovak, we will syndicate interesting Euro-related articles from other sources also in English.

Euro Bill Methodology:

We take into consideration Slovak share in these programs:

  • ECB bond purchases
  • EFSF guarantees
  • EFSM guarantees
  • IMF guarantees in EFSF and EFSM
  • IMF loan to Greece
  • (Add also your share on the first loan to Greece if you want to count the bill for your country. Slovakia didn’t participate on the loan)

The overall exposition per capita is counted in the first table. The current liabilities per capita are summarized in the second one.

INESS – Institute of Economic and Social Studies
Na Vŕšku 8, 811 01 Bratislava, Slovakia
tel./fax.: +421 (0)2 5441 0945
e-mail: iness[at]iness.sk