Bratislava agrees to bolster euro

Published on 29 September 2011 at 12:46


Slovakia’s intentions regarding the reinforcement of the European Financial Stability Facility (EFSF) have long been unclear but Bratislava now seems on the path to accepting the proposed plan. The ruling Freedom and Solidarity (SaS) Party, was hostile to the Greek bail-out package to the point of threatening the stability of the centre-right coalition led by Iveta Radičová. The SaS finally “accepted the rampart for the euro,” says Slovakian daily SME.

An agreement concluded with Radičová provides for Slovakia to approve the modifications proposed to the EFSF but without participating to it financially. A “naive and selfish” compromise, SME calls the accord. All 17 eurozone countries must ratify the reinforcement package and ten have already done so. Slovakia is scheduled to vote on the package on October 17, the deadline set by European leaders and the European Central Bank.

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