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Slovakia scuttles Greek bailout

Oct 12, 2011

http://www.usatoday.com/money/world/story/2011-10-11/slovakia-euro-bailout-fund/50734048/1

BRATISLAVA, Slovakia–Slovakian lawmakers on Tuesday rejected participation in an expanded euro rescue fund aimed at shoring up confidence in the ability of euro members to survive the financial crisis...

"Today we saved more than 300 billion euros for the European taxpayers that would have been used to bail out banks," said Parliament Speaker Richard Sulik, who led Parliament's opposition to the expansion of the bailout fund...

In the debate, Sulik argued that the expanded fund made "no sense" because it would not have enough money to help big EU economies like Italy and Spain and that it would be "an honest solution to let Greece go bankrupt."


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