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Slovakia Dithers on European Bailout Vote

Oct 11th, 2011 11:20 by News

11-Oct (The Wall Street Journal) — Slovakia’s lawmakers were scrambling to vote on a crucial expansion of the euro zone’s bailout fund, but their slow progress Tuesday renewed concerns about prospects for the region, while the European Central Bank’s president warned the crisis has “reached a systemic dimension.”

Slovakia, the poorest country in the bloc, is the last of the 17 euro-zone countries to vote on the €440 billion ($600.34 billion) European Financial Stability Facility, which was agreed upon by euro-zone members in July to address the euro zone’s debt crisis.

After months of painstaking negotiations and political jockeying, the agreement to expand the bailout vehicle, crucial to the euro zone’s strategy for containing the debt crisis, remained up in the air amid a split in Slovak domestic politics.

Author key: MK - Michael J. Kosares; GC - George Cooper; PG - Peter A. Grant; JK - Jonathan Kosares; RS - Randal Strauss. [see also 12 yrs of Discussion Archives]

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