UPDATE (13 October 2011) - As widely expected, Slovakian lawmakers approved the enhancement of the European rescue fund (EFSF) today. Out of 147 lawmakers, 114 voted in favor, 30 against, and three abstained.
The vote came after yesterday's talks between the government and SMER-SD, the largest opposition party in Slovakia. SMER-SD agreed to vote in favor of the plan in exchange for the government, which resigned after the first unsuccessful vote, calling early elections.
The elections will be held in March next year.
The original article is here:
Bratislava - In the Slovakian parliament's second vote over the European rescue fund (EFSF) enhancement, Slovakia's largest opposition party will vote in favor. In exchange, the government will hold early elections.
This is the result of talks held today between the Slovak goverenment and the social democratic party SMER-SD, the largest opposition party led by former PM Robert Fico.
The Slovakian government resigned yesterday after a liberal member of the coalition voted against the proposal to enhance the authority of the EFSF, causing the negative outcome of the vote.
Fitch said today that Slovakia's failure to approve the reform of the rescue fund would deepen the crisis of the bloc.
Mikuláš Dzurinda, the chairman of the largest government party (SDKU-DS) who represents the government in talks with the opposition said he will try to make sure that the EFSF is approved as soon as possible.
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Chairman of SMER-SD Robert Fico has repeatedly said that his party will vote for the proposal in the second vote. He repeated it after the first - negative - vote on Tuesday this week. "Slovakia must join the EFSF," Fico said to journalists.
The government led by Iveta Radičová met today. Radičová, whose government resigned yesterday, will remain in office until a new government is appointed.
Slovakia is the last of the 17 eurozone members not to sign the key document approving changes in the EFSF. Without the "yes" from Bratislava, the reform cannot take effect in its present form.
However, Austria's Foreign Affairs Minister Michael Spindelegger said that if necessary, the rescue fund could work even without Slovakia's approval.
Top representatives of the EU have already asked Slovakia to quickly approve the document.
By approving the reform, Slovak politicians would agree to increase its contribution to the EFSF from the current EUR 4.4 bil to 7.7bil.
