BRATISLAVA, Slovakia—Slovakia's parliament will vote to endorse the amended European Financial Stability Facility, the euro zone's rescue fund, by Friday at the latest, Robert Fico, the chairman of the largest opposition and parliamentary party Smer-Social Democracy said Wednesday.Well, it's smooth sailing from here on out!
Wednesday, October 12, 2011
Whew! That Was Close!
The Slovakians are going along with the latest Euro bailout after all after first getting rid of their government.
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Yeah, especially since the Italians are on board for 18% of the whole thing... Hey wait... Doh! [facepalm]
I love how Slovakia is poorer than almost everyone else out there, but is expected to pony up for the binge spending in Greece, Portugal, Italy, ...
Just a matter of time before dominoes will be set in motion from a Greek default. There is no way to prevent defaults on European sovereign debt, with Greece being the most prominent example, with the possible exception of massively devaluing the Euro. But as a practical matter that's not much different from a default.
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