Czech foreign minister in favour of loan

The Czech foreign minister, Karel Schwarzenberg, has indicted that the Czech government would have little choice but to approve the loan in view of the fact that a rejection would result in the country’s isolation and could have a far-reaching negative impact on its future development. Mr. Schwarzenberg also pointed out that as an EU member the Czech Republic had a moral obligation to pull its weight in helping to save the euro. The money loaned would not be used for direct assistance but to help boost the IMFs reserves at a time of economic crisis. The matter should be consulted with parliament although the government has the final word on the loan.