Michal Kovac is a former banker who served as the first President of Slovakia
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Michal Kovac is a former banker who served as the first President of Slovakia
Michal Kováč born at
He is married to Emília Kováčová and has two children with her—Michael and Juraj. His son, who had been accused of financial crimes by German authorities was allegedly kidnapped and taken to Austria. Kovac accused the government and Meciar to have staged the kidnapping.
Michal Kovac was born on 5 August 1930 in Ľubiša, Czechoslovakia.
After completing his high school education he enrolled at the University of Economics in Bratislava. As a student he developed a keen interest in banking systems and issues related to finance.
He was also interested in politics from a young age and made important analysis on the Socialist system, based on Soviet documentation. As a young man he developed connections with the country's most important Communist political leaders and soon became well acquainted with the political functioning of the nation.
After completing his education he embarked on a banking career. Over the next several years he held positions at various banks including the Státní banka československá.
He had a thriving banking career. Hard working, intelligent and determined, he acquired in-depth knowledge about the working of banks and the functioning of the country’s financial system. Over the course of his career he also traveled to and worked at places like London and Cuba in the 1960s.
The Velvet Revolution which happened in 1989 was marked by a period of political upheaval and transition of power in what was then Czechoslovakia. Several non-violent protests and demonstrations were held by students and other dissidents against the one-party government of the Communist Party of Czechoslovakia
During the Velvet Revolution, Kovac became the Finance Minister of the Slovak (Socialist) Republic, a position he served in from December 1989 to May 1991.
During the early 1991 he co-founded the ‘Movement for a Democratic Slovakia’ along with other like-minded individuals. He also served as the vice-chairman of the movement which was led by his friend Vladimir Meciar.
He played a leading role in the peaceful separation of Czechoslovakia into Czech Republic and Slovakia.