The fix is in.
Looks like the EU has found their “Father Tiso.”
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.
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.
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).
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.