The multibillion euro bailout fund to deal with debt crisis is rejected by Slovakia
After eight hours of debate in parliament, the measure calling on Slovakia to support the bailout fund failed to pass by 21 votes.
"Today we saved more than €300bn for the European taxpayers that would have been used to bail out banks," said parliament speaker Richard Sulik, who led parliament's opposition to the expansion of the European Financial Stability Facility (EFSF).Without a "yes" from Slovakia, the backstop fund cannot act proactively. The eurozone's efforts to deal with a crisis that has already seen three countries get bailouts is getting further complicating. The decision raised fears of a Greek default and massive losses for banks.
Although many ordinary Slovaks are losing patience in helping much wealthier countries that lacked the discipline to follow the eurozone's rules, many fear a return to the bad old days. Shopping in Bratislava city centre , one 69-year-old pensioner said she found it hard to swallow the €350 a month she gets by on each month, knowing that the average Greek pensioner takes home €1,200.
Source: The Guardian
After eight hours of debate in parliament, the measure calling on Slovakia to support the bailout fund failed to pass by 21 votes.
"Today we saved more than €300bn for the European taxpayers that would have been used to bail out banks," said parliament speaker Richard Sulik, who led parliament's opposition to the expansion of the European Financial Stability Facility (EFSF).Without a "yes" from Slovakia, the backstop fund cannot act proactively. The eurozone's efforts to deal with a crisis that has already seen three countries get bailouts is getting further complicating. The decision raised fears of a Greek default and massive losses for banks.
Although many ordinary Slovaks are losing patience in helping much wealthier countries that lacked the discipline to follow the eurozone's rules, many fear a return to the bad old days. Shopping in Bratislava city centre , one 69-year-old pensioner said she found it hard to swallow the €350 a month she gets by on each month, knowing that the average Greek pensioner takes home €1,200.
Source: The Guardian
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