Slovakia’s parliament became the first in the eurozone to vote against bailing out indebted economies. The final vote on approving new powers for the €440bn European financial stability facility failed with only 55 of the parliament’s 150 MPs voting in favour, causing the coalition government of Iveta Radicova to collapse. Slovakia is the last of the 17 eurozone countries to approve the “improved” rescue fund. The Slovak parliament will remain in session and is likely to hold a second vote. Nevertheless, Slovakia has really good reasons not to approve the EFSF.
You can read more about them in the policy note published by our fellows from the Institute of Economic and Social Studies.
