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Decision on second Greece bailout due in one month

Slovakia has not got as much time to reach agreement on the second bailout package for Greece and the broadening of the European Financial Stability Fund (EFSF) as was previously thought. While Prime Minister Iveta Radičová earlier this week said that Slovakia would be the last country to sign the agreement, the Slovak representative at the EFSF, Michal Bruncko, has now commented that the decision can be postponed only until the end of September, the Sme daily reported.

Slovakia has not got as much time to reach agreement on the second bailout package for Greece and the broadening of the European Financial Stability Fund (EFSF) as was previously thought. While Prime Minister Iveta Radičová earlier this week said that Slovakia would be the last country to sign the agreement, the Slovak representative at the EFSF, Michal Bruncko, has now commented that the decision can be postponed only until the end of September, the Sme daily reported.

“By then it is necessary to complete all steps required to validate the new agreement over the EFSF in Slovakia,” Bruncko said, as quoted by the daily.

Though the government approved the bailout package for Greece on August 17, some elements in the ruling coalition are still opposed to lending money to Greece. As well as Freedom and Solidarity (SaS), the four MPs members of the Civic Conservative Party (OKS), who are part of the Most-Hid caucus, oppose the government’s decision.

“OKS’s rejection concerning these issues is not subject to change,” said faction leader Peter Zajac, as quoted by the TASR newswire. “We view the latest events as a testament to our stance that the EFSF has turned out to be an ineffective tool for addressing the debt crisis.”

OKS is proposing that the Slovak Parliament not hold a vote on changes to the Lisbon Treaty, which are a pre-condition for extension of the temporary EFSF and the establishment of its permanent replacement, the European Stability Mechanism (ESM), until the EU adopts a rational and effective long-term scheme that will prevent fiscal and debt crises.

Sources: Sme, TASR

Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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