Slovakia says NO!

[ubuy2wron]

Do we get fireworks tomorrow.

[Parsad]

Maybe a little, but I suspect they will move forward without Slovakia, as they did earlier.  It is one of the most ridiculous notions in the world to have a unanimous vote requirement for any law to be enacted by the Euro zone.  Only the most idiotic of politicians would have pushed such an idea through when they formed the coalition.  One person can stop any progress, but I guess that is how these numbskulls work.  Cheers!

[Parsad]

Incidentally, they expect the second vote to go through, as the government had tied themselves to this vote. 

 

How stupid can you be?  So if we lose the first vote, we will leave office.  The opposition simply votes no and gets them booted out.  Talk about shooting yourself in the foot!  Cheers!

 

http://www.cnbc.com/id/44854607

[Parsad]

The Prime Minister and Opposition Party Leader have agreed to meet and get a package approved.  Cheers!

 

http://www.theglobeandmail.com/report-on-business/international-news/european/slovak-parties-agree-to-talks-on-approving-euro-zone-rescue-fund/article2197701/

[CONeal]

This wasn't a real surprise due to past actions and what they have been saying over the last month. 

 

The thing that irritates me is Slovakia signed on for the one currency.  You have to take the good with the bad.  To take advantage of the benefits and then bitch like babies when disadvantages pop up is dumb. 

 

The other countries need to step up and and tell them, your either in or your out.  If your out, support your own currency and don't come crying when you have problems.  This isn't a one way street.

[Baoxiaodao]

When reading about Germany and France put up a deadline for a solution, I realized that markets are going to be disappointed. 2 weeks for a solution? EU does not have 20+ states; EU has 20+ COUNTRIES! Anyone who claims that those problems can be solved in the near future is just day dreaming.

 

I never sold anything in the crisis and rode it out OK. However, when I was reading this, I am seriously considering selling part of holdings. If everything works out as promised, there is very little upside from today; if there are things like Slovakia keep happening, we'd expect disasters coming very soon.

 

Be careful and do not trust French politicians.

[alwaysinvert]

Maybe a little, but I suspect they will move forward without Slovakia, as they did earlier.  It is one of the most ridiculous notions in the world to have a unanimous vote requirement for any law to be enacted by the Euro zone.  Only the most idiotic of politicians would have pushed such an idea through when they formed the coalition.  One person can stop any progress, but I guess that is how these numbskulls work.  Cheers!

That's de Gaulle for you.

[Zorrofan]

IIRC, they are being asked to contribute an amount equal to the governments entire yearly budget to the EFSF. How would we react if the US was asked to contribute $1 trillion to the IMF (just to come up with a comparable example)?  Slovakia is the poorest - or close to it - of the Euro nations involved in this.

 

This wasn't a real surprise due to past actions and what they have been saying over the last month. 

 

The thing that irritates me is Slovakia signed on for the one currency.  You have to take the good with the bad.  To take advantage of the benefits and then bitch like babies when disadvantages pop up is dumb. 

 

The other countries need to step up and and tell them, your either in or your out.  If your out, support your own currency and don't come crying when you have problems.  This isn't a one way street.

[CONeal]

IIRC, they are being asked to contribute an amount equal to the governments entire yearly budget to the EFSF. How would we react if the US was asked to contribute $1 trillion to the IMF (just to come up with a comparable example)?  Slovakia is the poorest - or close to it - of the Euro nations involved in this.

 

This wasn't a real surprise due to past actions and what they have been saying over the last month. 

 

The thing that irritates me is Slovakia signed on for the one currency.  You have to take the good with the bad.  To take advantage of the benefits and then bitch like babies when disadvantages pop up is dumb. 

 

The other countries need to step up and and tell them, your either in or your out.  If your out, support your own currency and don't come crying when you have problems.  This isn't a one way street.

 

In your comparable example, if it was to occur then in my view the US should pay up.  They take the benefit of being the largest member in the organization and with that benefit they are able to exert certain privileges that the other countries to not have.  For instance the US is the only country that has the power to veto based on their vote alone.  Would it cause issues here?  Of course, if that kind of bill came due it would be chaos.

 

In my view the European Union is more like a partnership.  If you signed onto the partnership don't claim poverty when your share of a bill comes due.  Everyone benefits from having this resolved now.  You don't see France and Germany complaining very much bc they know that it what's best overall for everyone and they are putting up the most money.  I will say that Europe has handled this alot better then we would have here in the US.