Bloomberg News

Slovak Budget Committee’s EFSF Recommendation May Be Invalid

October 10, 2011

Oct. 10 (Bloomberg) -- A Slovak parliamentary budget committee recommendation to approve an overhaul of the euro- area’s bailout mechanism may be invalid due to procedural reasons, the committee’s chief said.

Jozef Kollar, head of the committee, told reporters in Bratislava, Slovakia, today that he will ask the constitutional committee to rule on whether the vote today was valid. Kollar said the committee may have needed a majority of seven members to approve the international EFSF treaty, while only six members, including Kollar, endorsed the resolution.

To contact the reporter on this story: Peter Laca in Prague at placa@bloomberg.net

To contact the editor responsible for this story: Douglas Lytle at dlytle@bloomberg.net


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