Today's meeting of Slovakian politicians who are opposed to expanding the EFSF could derail the expansion of the bailout mechanism. Two things are in play, 1) Slovakia being one of the EU's if not the, poorest nation, is opposed to bailing out bigger countries, I've travelled through Slovakia and there really isn't much there, if there were no check points, you could easily tell when you exited Hungary, entered Slovakia and then entered the Czech Republic.
No#2 issue at play, being the poorest also leaves them open to bribes. Today's meeting concluded with no agreement as to the EFSF, they will meet again tomorrow, so I wouldn't swing for the fences here, but stay nimble. The fate of the entire EFSF seems to know reside in Slovakia's hands.
5 years ago
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