Slovakia unsettles Europe’s rescue plan

BRATISLAVA, SLOVAKIA — As European leaders scramble to stop Europe's debt woes from triggering another global financial crisis, this sleepy little country known more for its medieval castles and fermented sheep's milk is holding their grand rescue plan hostage.

Under the rules governing the 17 nations that share the euro, an expanded rescue fund for Europe's ailing nations and troubled big banks must be approved by the parliaments of every country in the currency union. A yes vote by the Netherlands on Thursday left small, stubborn Slovakia as the biggest holdout, giving it outsize power to upend the plan largely shaped by the major European major nations of Germany and France.

Read full article >>

David Nakamura 07 Oct, 2011

--
Source: http://feeds.washingtonpost.com/click.phdo?i=d080bb0ca82f1c0ffc1d885670bc35ee
~
Manage subscription | Powered by rssforward.com