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Slovak government hangs in balance over EFSF

Slovak government hangs in balance over EFSF
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The Slovak parliament continues to be entangled in heated debate over whether or not to support the eurozone’s EFSF rescue fund. It is the last of the eurozone’s 17 members to give its approval and failure to do so is holding up the whole plan.

But for Slovaks it is also the fate of the government that is hanging in the balance. Prime Minister Iveta Radicova has tied the EFSF decision to a vote of confidence in her cabinet.

However even if she loses Radicova and two of her coalition partners say they can obtain a majority by calling on the largest opposition party, but the Smer Social Democrats say they would want major concessions including a cabinet reshuffle and early elections.

Radicova has pledged to ratify the EFSF agreement before the weekend. The delay caused European shares to end their four-day rally on Tuesday.

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