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Slovakia votes against expanding eurozone bailout fund

Slovakia’s parliament has voted against measures to boost the powers of the eurozone bailout fund, the BBC reports.

The country is the last of the eurozone’s 17 member states to vote on expanding the European Financial Stability Facility.

All member states must agree on the measures proposed in July, which include expanding the size of the fund to be able to lend up to £383bn, and the power to buy eurozone government debt and offer credit lines to member states and to banks.

The expansion measures failed to pass by 21 votes, after the Freedom and Solidarity party abstained. The party said Slovakian taxpayers should not have to cover the debts of richer countries.

The opposition Smer party also abstained.

However the BBC says a second vote could be held soon and is likely to succeed.

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  1. That’s right, make them keep on voting ’til they vote the ‘right’ way.

    The whole of the Euro experiment is proving to be an economic disaster just as many people predicted 20 years ago. The only people who really want it are those with their noses buried deep in the trough. Fraudulent politicians, euro-quangocrats, cheating French farmers, companies with lucrative government contracts selling their wares at 10 times actual value – and it’s tax payers picking up the bill for this economic debacle.

  2. Bill, couldn`t have put it better myself !!

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