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EFSF revamp screwed after Slovenia topple government after confidence vote - delay until 2012

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In mid July Merkozy decided the terms for a revamped EFSF, that tiny office in Avenue JFK in Luxembourg, currently sitting on 750 bn euros.

Lawmakers in Ljubljana voted 51-36 today to topple Prime Minister Borut Pahor’s administration, according to parliament’s press service. General elections are likely to be held as early as December, which may force a postponement of a vote to back the legislation enhancing the EU rescue fund, known as the European Financial Stability Facility.

“An eventual delay in Slovenia would slow the whole ratification process, since Slovakia, where one of the ruling parties opposes a more powerful EFSF, has already made it clear that it wants to be the last eurozone member to vote on the issue,” Michal Dybula, an economist at BNP Paribas in Warsaw, wrote in a note to clients today.

The world has to rely on ECB bond purchase and the weekly statistics will be a box office hit.

http://www.asymptotix.eu/news/united-states-europe-coming-revamped-efsf-whether-we-it-or-not

 

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