EU Dismisses Czech Republic’s Threat to Block ESM Bailout Fund
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The European Union dismissed threats from Czech Republic President Vaclav Klaus to block the euro area’s permanent bailout fund, saying he does not have a veto over the move.
Klaus’s refusal to sign an amendment to the bloc’s treaties linked to the establishment of the European Stability Mechanism will have “no consequences for the functioning of the ESM,” Simon O’Connor, spokesman for EU Economic and Monetary Affairs Commissioner Olli Rehn, told reporters today in Brussels.