12 October 2011

EUROZONE / SLOVAKIA : Bailout Bill To Pass...In Exchange For New March Election.

                                             BBC

      As experts predicted...politicos there will support the E440bn EFSF bailout bill...after winning assurances for an early election.
     The first bill vote was defeated Tuesday...when a coalition party and the main opposition abstained...upsetting many in the EU over the prospects of a long stall...and more market confusion and loss of confidence.
     A new vote will probably come by week's end.
    "We're saying 'no' to a rightist government, but we're saying 'yes' to the rescue fund," said an opposition leader Robert Fico.
     The current government is reportedly highly unpopular because of austerity measures.
     PM Iveta Radicova's (above) coalition will now hold the snap election on 10 March...with Fico's party expected to do well.


    TO READ ANALYSIS: Will tiny (2% of EU population) Slovakia's disobedience encourage others?  The Netherlands, Austria, Finland and Germany...may become more vocal in the future.
    In any case...further additions to the E44bn fund...are unlikely.
http://www.guardian.co.uk/business/2011/oct/12/euro-bailout-and-slovakia