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Slovak parties agree to ratify beefed-up eurozone fund

Slovak parties agree to ratify beefed-up eurozone fund
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Political parties in Slovakia have reached agreement on ratifying a plan to boost the powers of the euro zone’s fund for economies in trouble.

The government of three coalition parties collapsed this week in a failed confidence vote, when parliament rejected ratification.

Earlier the European Commission put pressure on Slovakia.

Pia Ahrenkilde Hansen, a European Commission spokesperson, said: ‘We remain confident that the Slovak authorities and the Parliament are fully aware of the critical importance of an enhanced and more flexible EFSF to preserve financial stability in the euro area. And that is in the interest of all euro countries, including the Slovak people.”

As well as a deal on the European Financial Stability Fund, Slovakia’s main parties have agreed that fresh elections will be held in March.

Parliament will hold a new vote on the EFSF on Friday.

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