Slovakia

The Slovak government has stated that they will be the last eurozone member to vote on proposed measures to extend the powers of the European Financial Stability Facility. With the recent collapse of the Slovenian government leaving open the prospect that Slovenia may not vote on the changes until the beginning of next year (in the event that a new government cannot be formed in 30 days from September 20, the vote will be postponed until elections are held), Slovakia may not vote on the legislation until 2012. We maintain that unless another state rejects the proposed changes, Slovakia will not block passage of the legislation.

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