Bloomberg News

Slovak Politicians Must Find EFSF Solution, EC Official Says

September 30, 2011

(Updates with additional comment on EFSF plans, from third paragraph.)

Sept. 30 (Bloomberg) -- Slovak politicians should find a solution to pass legislation needed to allow the European Union to initiate the European Financial Stability Facility, European Commission Vice President Maros Sefcovic said.

The country is playing “dramatically” with its credibility by threatening not to pass the legislation needed for the EFSF to take effect, Sefcovic told reporters today in Bratislava, Slovakia.

Sefcovic, a Slovak national, said he “can’t imagine” the European Union renegotiating the EFSF terms for Slovakia in order to help it win a vote in the country’s parliament in Bratislava.

No new proposal from Prime Minister Iveta Radicova has been received regarding Slovakia’s proposals on EFSF, the official said, responding to news that the premier has a compromise plan that may persuade a governing coalition partner to back EFSF.

The party, known as SaS, has said it will study Radicova’s plan. It has previously threatened to reject the EFSF bill in its present form when it comes up for a vote in parliament, probably by Oct. 17.

All 17 euro-area nations must approve the agreement.

--Editors: Douglas Lytle, Alan Crosby

To contact the reporter on this story: Radoslav Tomek in Bratislava at

To contact the editor responsible for this story: James M. Gomez at

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