Slovak Parliament has not ratified the EFSF expansion

In yesterday's vote, the Slovak parliament did not approve the expansion of European Financial Stability Facility (EFSF)The decision on which was agreed by European leaders in July of this year. Thus, so far only Slovakia has not ratified the increase of the fund, while to enter into force it must be approved by all 17 eurozone countries.

Due to the fact that the Slovak government has bound the bill to increase the EFSF with a vote of confidence in itself, it will now be forced to resign.

No date has yet been set for a new vote on the expansion of the fund, but it is expected to result in a positive decision on the EFSF.