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Wednesday, October 12, 2011

Kicking The Can Down The Road

As predicted, the Slovakian parliament voted against endorsing changes to the European Financial Stability Facility (EFSF) and the government has fallen.

However, those hoping that this will finally draw a line under the uncertainty and dithering wrt the Euro crisis (by drawing matters to a head) will be sorely disappointed.

Slovak lawmakers are regrouping Wednesday, to broker a deal that will ensure that a new vote on the issue will pass next time.

As to when that vote will be is not clear. However, this political "fix" will ensure that the Euro crisis continues for a while longer as the can has been yet again kicked down the road.

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