Slovak government collapses over euro-bailout fund

EU Observer ^ | 2011-10-12 @ 09:16 | Valentina Pop

[Olog-hai]

The Slovak parliament on Tuesday (11 October) brought down the government in a no-confidence vote linked to the eurozone bailout fund, a move putting in doubt a second rescue package for Greece as agreed by EU leaders in July.

The vote count showed 55 MPs in favor of extending the powers of the European Financial Stability Facility (EFSF) and nine against out of a chamber of 150 members. The remainder, including coalition members, were absent or did not register a vote. A majority of all seats was required for the motion to pass. …

The Slovak conundrum complicates eurozone talks on a second Greek bail-out accompanied by debt restructuring ahead of a special EU summit, which was delayed to 23 October. "Slovakia has to create political conditions which will allow a positive vote on the EFSF as soon as possible," European Council chief Herman Van Rompuy said. …

[Olog-hai]

This is only the second time in five years that EU interference has brought down a government in Slovakia, too.

[Buckeye McFrog]

"Slovakia has to create political conditions which will allow a positive vote on the EFSF as soon as possible," European Council chief Herman Van Rompuy said.

That's as chilling a line as I've ever seen coming from a New World Order bureaucrat.

"You've got to get your people's minds right, so that your elites will then be able to give us what we want"

[rsobin]

The fix is in.

[dfwgator]

Looks like the EU has found their “Father Tiso.”

[mrsmith]

http://www.washingtonpost.com/world/europe/slovakia-reaches-agreement-on-european-bailout-fund/2011/10/12/gIQApBZZfL_story.html?hpid=z3
“...Since the fund vote was tied to a no-confidence motion in the government, the rejection of the measure also brought down Radicova’s administration.

On Wednesday, however, opposition leader Robert Fico, head of the Smer-Social Democracy party, announced he had struck a deal with the remnants of Radicova’s coalition, promising to back the fund in exchange for early elections that analysts say Fico’s party is well positioned to win... “

Meet the new boss, same as the old boss.

[icwhatudo]

Confusing article but basically picture the republicans are in control thanks to the Tea Party. The Tea Party says screw you on more spending and the establishment rinos are forced to make make a deal with the dems to hold new elections if the dems support their plan.

[BfloGuy]

The EU will simply change the rules of ratification. That’s what the EU does — change the rules (when they don’t just ignore them outright).

[Vince Ferrer]

SPIEGEL ONLINE: You're not afraid that a Greek insolvency could mark the beginning of the crisis instead of the end?

Sulik: No. There's not going to be a domino effect along the lines of "first Greece, then Portugal and finally Italy." Just because one country goes broke doesn't mean the other ones automatically will.

SPIEGEL ONLINE: Nevertheless, banks could run into significant problems should they be forced to write down billions in sovereign bond holdings.

Sulik: So what? They took on too much risk. That one might go broke as a consequence of bad decisions is just part of the market economy. Of course, states have to protect the savings of their populations. But that's much cheaper than bailing banks out. And that, in turn, is much cheaper than bailing entire states out.

From Slovakian EFSF Opponent Sulik