Belfast Telegraph

Monday 20 October 2014

Slovakia backs EU bailout boost

Opposition leader Robert Fico made a deal to back the euro bailout in exchange for early general elections on March 10 (AP)
Slovakia's prime minister Iveta Radicova had urged MPs to back the bill (AP)

Slovakia's parliament has approved expanding the powers of the EU bailout fund after rejecting it in a vote on Tuesday.

Slovakia is the last of the 17 eurozone nations to approve increasing the size and powers of the fund, which is designed to boost Europe's defences against the debt market turmoil.

Parliament rejected the changes on Tuesday because a junior coalition party was against it, causing the government to fall.

The main opposition Smer-Social Democracy agreed to help the outgoing coalition in exchange for early elections.

On Thursday 114 MPs voted in favour of boosting the bailout fund's powers, while 76 were needed.

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