October 12, 2011
Slovakia looks set to ratify the expansion of the euro bailout fund in a second vote this week after the government reached a deal with opposition parties on Wednesday. The country had thrown euro rescue efforts into doubt on Tuesday night when it became the only euro zone member to reject the measure.
The coalition parties that make up the outgoing Slovak government reached an agreement with the most important opposition party on Wednesday to ratify the expansion of the euro bailout fund, the European Financial Stability Facility (EFSF).
The three parties in the ruling coalition struck a deal with Robert Fico's Smer party the day after the government lost a confidence vote it had called in an attempt to push trhough ratification of the fund increase, seen as crucial to help contain the debt crisis.
The parliament will ratify the measure by Friday at the latest, Fico was reported as saying. Slovakia, whose 5.4 million people make up less than 2 percent of the euro zone's population, is the only member not to have ratified the plan.
In return for his support, Fico is reported to have secured agreement from the other parties to hold a new election in March. "Slovakia will ratify the EU rescue fund without problems," Fico said after negotiations with three of the four coalition parties on Wednesday.
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