Published: 2019.12.06. Will Slovakia be able to regain its gold too?

Will Slovakia be able to regain its gold too? - Preview

Currently, the Republic of Slovakia stores 31.7 tons of gold in the Bank of England vault in London. The Social Democrats, led by former Prime Minister Robert Fico, want to return gold to the country.
Slovakia intends to continue the tradition of repatriating national gold to the state, after Poland and Hungary were able to return most of the precious metal that was stored abroad. Another European country, Romania, is also discussing the possibility of returning gold to the country. The initiative for the return of gold in Slovakia is supported by a serious political party. According to available information, 31.7 tons of Slovak gold are stored in London in the amount of 1.35 billion euros at the current exchange rate.
Robert Fico, chairman and founder of the Social Democratic Party of Slovakia, as well as a former minister-president of the country, presented his plan for the return of national gold to the country. His initiative was supported by 30 members of parliament. The preparation of the repatriation process will be undertaken by the Central Bank. According to Fico, with the help of gold, he intends to stabilize the state’s economy during the next financial crisis. At the same time, he pointed to Brexit as a factor of destabilization in Europe.