Slovak Ruling Party Won’t Support Permanent EU Bailout Fund
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A Slovak governing coalition party said it won’t support the creation of the European Union’s permanent bailout fund, potentially endangering the bloc’s main tool to quell fiscal crises.
The Freedom and Solidarity party, one of four coalition members, will vote against Slovak participation in the so-called European Stability Mechanism, which is set to be created in 2013 to help distressed countries, Chairman Richard Sulik said today. Prime Minister Iveta Radicova’s government will therefore need the support of the opposition, led by her predecessor and fierce critic Robert Fico, to approve the country’s participation.