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Brigita Schmognerova

Slovak politician and economist, member of the executive committee of EBRD

In 1994, Ms. Schmognerová was the Deputy Minister of Economics, in the spring of 1998, SDĽ delegates chose her as a candidate for the office of the President of Slovakia in the third round of the presidential elections, and from 1998 to 2002, and she was Finance Minister and Deputy Prime Minister in the first government of Mikuláš Dzurinda.

She was the first woman to receive the title of „Best Finance Minister“ in 2000 from the British Euromoney Magazine. She introduced a series of economic reforms, which included a VAT increase from 6% to 10%, lower taxes for corporations and individuals, as well as unpopular hikes in excise taxes on tobacco and alcohol. She helped to restructure the banking sector, thus significantly reducing the interest rates on the market and warned people against opening deposits in non-banking institutions. However, because of disputes in the SDĽ, she left her government post and started work as the Executive Secretary of the Economic Commission for Europe (UN) in Geneva, which is one of the five UN regional commissions immediately subordinate to the Economic and Social Council. Since 1 September 2005, she has been a senior management member of the European Bank for Reconstruction and Development (EBRD) in London, in the post of vice-president of human resources, procurement and administration.

1. Why did you decide to work for the European Bank for Reconstruction and Development?

There were many reasons, but I will mention only two – the good experience I had during the time when I was the Minister of Finance and worked with EBRD, whose mandate was to promote reforms in the post-Soviet bloc countries, which to some extent was following the ECE (UN) mission. And family reasons also played a role.

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2. What are your responsibilities in this position?

I am in charge of several EBRD policies: environmental and social, as well as public procurement policies (in both cases, this involves EBRD investment projects); also corporate procurement policy, I am in charge of the technical support board, and am a member of the executive committee.

3. EBRD supports investment projects in 29 countries, from central Europe to central Asia. In which investment projects is EBRD involved in Slovakia?

The full list can be found on the EBRD website. Clearly, more projects are from the beginning of the transformation process. Recently, the EBRD supported the PPP of the construction of the R1 high-speed highway, and on March 2, I will present the second credit line to promote energy efficiency and energy production from renewable sources in Bratislava.

4. You have been living in London almost 5 years now. Do you miss anything from Slovakia? And what do you miss most?

Of course I do, but I would rather say what I miss in Slovakia. Higher personal standards – in politics, in business, in the sciences, education, etc. This list could go on to dozens of pages…

5. In 2007, you said: „I am disgusted on how little attention is paid to the emigration issue. I live in London and I can say that the second most common language you hear after Polish is Slovak. If our emigrants remain permanently outside of Slovakia, it will mean a loss to our economy and future problems with our aging society.“ What do you think of the fact that Slovakia has still not set up in London, the financial and cultural capital of the world, the Slovak Institute or a branch of the Slovak Agency for Tourism (SACR) or the Slovak Agency for Investment and Trade (SARIO)?

I was referring to the „brain drain“ and „youth drain“ from Slovakia. Stopping the leakage of talent is difficult; the first step is to recognize the damage that this leads to. The Slovak Institute for the promotion of cultural relations in London should certainly be here – just like in Prague or Vienna or Budapest. I do not wish to guess what the prospects are for the development of tourism from Britain to Slovakia. The possibilities are certainly greater than the actual reality today. Britons are not among the most important foreign investors in Slovakia. Their greater involvement in other sectors, like the automotive industry, could help Slovakia achieve greater diversification of its economy. There is much talk about economic diplomacy, but its level is quite low.

6. According to the statistics of the Ministry of Interior of Great Britain of March 2009, nearly 45% of Slovaks living in the UK are working in business administration or management. What characteristics do you think Slovaks have that help them conquer the UK job market? How different are these from other national groups?

Educational level, resourcefulness, willingness to work. Unfortunately, only rarely do they find a job matching their qualifications. Many if not most, lose their skills over time.

7. Slovaks living abroad will be, for the second time, able to vote by post in the elections to the Slovak Parliament on 12 June 2010. In the 2006 elections, only 3,427 Slovak citizens living abroad bothered to vote. Why should Slovaks living abroad use their right to vote this year?

Maybe you are trying to say that the elections in 2010 are similar to those in 1998. No, they are not. Back then, the issue was the EU and NATO. Another thing is that in every election there are many issues. Slovaks in two European elections, for example, voted with their feet. I recommend voting with the electoral ticket in hand and using one's head.