The future centre-right government in Slovakia will not block the creation of the European Financial Stability Facility (EFSF), the €750 billion eurozone support mechanism.

“The decision about political agreement on the European stabilization mechanism is irreversible and therefore the new government will not block its creation,” the Slovak Democratic and Christian Union party (SDKU), the leading party in the future coalition government, said in a statement on Thursday (1 July).

The formal SDKU statement ends a potential deadlock on the bail-out fund, which requires approval by all 16 eurozone countries.

The deadlock emerged after outgoing Slovak PM, Robert Fico, said he would not sign the ratification instrument unless the incoming new government had first declared that it backs the EFSF, with Mr Fico sensing that his solitary signature could be used as a political weapon against him in future.

More on EUobserver


One thought on “Next Slovakian Government Clears Way for Euro Bailout Fund

  1. Pingback: Slovakia Clears Way For Euro Bail-Out Fund « EconomicReview Journal

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s