Tuesday, October 11, 2011

Et tu, Slovakia?

Oct. 11 (Bloomberg) -- Slovak lawmakers failed to approve an overhaul of Europes bailout fund, toppling the government and leaving the euro areas second-poorest member with the need to repeat the vote to pass the mechanism.
Smer, the largest opposition party, which didnt back the legislation today, will support the changes in a second vote, ensuring it will pass, party leader Robert Fico told reporters in the capital Bratislava. While no date has been set for a new vote, Finance Minister Ivan Miklos said the revamped European Financial Stability Facility will likely be passed this week.

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