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Slovakia holds up expanding bailout fund

10-11-2011 14:04 BJT

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Slovakia to vote on European bailout fund

Slovakia's government will try again to solve a deep division over a continentwide plan to rescue heavily indebted European nations.

After coalition leaders failed to agree on a deal to approve the EU bailout fund on Monday, they're meeting Tuesday morning in a last minute effort to strike a deal.

The 17 nations that use the euro must all approve expanding the powers of the bailout fund, which is designed to shore up Europe's defenses against the debt crisis.

Slovakia's Parliament is set to vote later Tuesday. Slovakia's "no" would be a bad signal for already nervous financial markets and likely cause a government crisis here.

All other EU nations have backed the expanded powers for the EU bailout fund.

Editor:James |Source: CNTV

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