Press Release: Free movement of capital: Commission requests Slovakia to remove investment restrictions on statutory pension funds

The European Commission decided to formally request Slovakia to remove its investment restrictions on statutory pension funds, which in the Commission's view constitute an infringement of Article 56 Treaty EC prohibiting restrictions on free movement of capital. This formal request takes the form of a 'reasoned opinion', the second stage of the infringement procedure laid down in Article 226 of the EC Treaty. If there is no satisfactory reply within two months, the Commission may refer the matter to the European Court of Justice.