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The situation is similar, when comparing the monthly minimum wages installed in selected
countries:
Latvia 360 €uro
Slovakia 380 Euro
Greece 684 Euro
Says Robert Fico, Prime Minister of Slovakia: There is no reason for Slovakia, to make
money gifts to others.
As to the interest rates presently prevailing: lowest interest rates in history of mankind. Even
negative interest rates on government debt, never seen in history of mankind. Already some
big corporates getting close to enjoying negative interest rates on their debt.
And as to the day in and day out news flow about the quantitative easing of the ECB, as to the
talk of Europe falling into deflation, like the sinking ship, and as to the talk of banks not
making sufficient new loans to the real economy in the Southern European States.
My advice: Do not expect, that this scenario will last for long. Negative interest rates for the
broad real economy will not happen. And sustained deflation is not to happen either.
Ultra low, but still positive interest rates may be around for some more time, but also they can
be over quickly.
Treasurers, whose corporations have long term financial debt, should refinance and, or
renegotiate such debt, in order to make use to the maximum possible of the presently ultra-
low long-term interest rates.
IGTA eJournal | Summer 2015 | 13