| Author (Person) | Chaffin, Joshua, Cienski, Jan |
|---|---|
| Series Title | Financial Times |
| Series Details | 12.10.11 |
| Publication Date | 12/10/2011 |
| Content Type | News |
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Slovakia’s government became the first in the eurozone to fall over opposition to bailing out indebted economies after the country’s parliament voted down approval for enhancing the eurozones rescue fund on the 11 October 2011. The vote caused the coalition government of Iveta Radicova to collapse. Slovakia is the last of the 17 eurozone countries to approve the improved rescue fund. Commentators suggested that the political drama in the Slovak Republic would not disrupt enhancements to the European Financial Stability Facility (EFSF) for long, but it underlined how fraught the political debate had become in some eurozone creditor countries. A second vote was expected by the end of the same week after Prime Minister Iveta Radicova's coalition struck a deal with the opposition Social Democrats on the 12 October 2011. The Slovak parliament voted on the 13 October 2011 to approve the expansion of the euro bailout fund. The earlier rejection forced the current government to agree to a new general election in March 2012 in exchange for opposition support for the measure. |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe, Slovakia |
