Slovakian lawmakers reject eurozone bailout fund’s expansion
October 12th, 2011 - 12:21 pm ICT by IANSWarsaw, Oct 12 (IANS/RIA Novosti) Slovakia’s parliament rejected expansion of powers of the eurozone rescue fund, the European Financial Stability Facility (EFSF), a media report said.
The plan was agreed by eurozone leaders in July but is subject to approval of all 17 eurozone member parliaments. Slovakia was the only remaining country to approve and ratify the agreement, Slovakian SITA news agency reported Wednesday.
The European Union formed the EFSF in May 2010 to provide support for economically weak members such as Ireland and Greece.
The EFSF planned to float bonds worth 16 billion euros this year. Fitch Ratings agency has assigned an AAA rating to the fund’s bond programme.
–IANS/RIA Novosti
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Tags: bailout, bonds, efsf, european union, financial stability, fitch ratings, greece, ireland, lawmakers, news agency, parliament, parliaments, ria novosti, slovakia, warsaw