Sunday, September 2, 2012

Slovakia Votes Against Larger European Bailout Fund

Slovakian legislators voted against expanding the European bailout fund, (the European Financial Stability Facility) late on Tuesday. The vote could put a hitch in the Euro zone’s attempt to increase the bailout fund, but Slovakia intends to take another vote, and local lawmakers expect it to eventually pass, the Wall Street Journal reported.

The Euro zone countries are seeking authority to allow the EFSF to buy sovereign debt on secondary markets, and even lend to troubled banks, the Journal noted.

U.S. stocks were down slightly in after-hours trading.

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