11th Hour Decision Pushed To Milliseconds Before Midnight As Slovakia Fails To Reach EFSF Decision

Tyler Durden's picture

Just out from Reuters:



Slovak party leaders reached no agreement on a plan to give more power to euro zone's EFSF bailout fund on Monday and negotiations will continue on Tuesday morning, chief Bela Bugar of the Most-Hid party told reporters.

It appears the euro likes to live very dangerously. Just bribe all the people involved already. Which, of course, is precisely what will likely happen, and a favorable last minute resolution (tomorrow is the deadline), will butcher any and all EUR shorts. Of course, if Slovak politicians actually have this thing called conscience and don't have this thing called Swiss bank accounts, then all bets are off.

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Mongo's picture

Because democracy is so overrated... just as the guillotine is so underrated.


Equillibrium bitchez!

LeonardoFibonacci's picture

So much for the end of the financial world due to Europe.  It will be centuries before a collapse because Big Ben has alot of play room.

slaughterer's picture

Of course, if Slovak politicians actually have this thing called conscience and don't have this thing called Swiss bank accounts, then all bets are off.


Slovaks do not need Swiss bank accounts if they are putting on ES-mini-future and EUR/USD shorts in the AH and morning sessions.   Slovaks of the world, short! 

kito's picture

democracy ended in 1776

HardlyZero's picture

FECALSS between PIIGS have to start somewhere and when ?


wombats's picture

Pitchforks and Torches...bitchez!

Azannoth's picture

Because you can 'talk' yourself out of any problem NOT

trade the day's picture

Eur to the moon bitchez

SheepDog-One's picture

Wait I thought when you print and dilute your own currency to insanity, the value DECLINES....well WTF this is easy, now you print and the underlying currency RISES as well?? Why didnt someone notice this phenomenon centuries ago WTF we'd all be trillionaires living in mansions made out of diamonds!

Deadpool's picture

save us Slovakia, you are our only hope....

Finnykins's picture

Camed. English the second language

LetThemEatRand's picture

I just want to say good luck Slovakia, we're all counting on you.

Popo's picture

What's all this about Souvlaki?

It's making me hungry.

Wooly's picture

"Prime Minister Iveta Radicova can be sure of getting EFSF approval through the Slovak parliament eventually. But if SaS does not back her, she will have to rely on the opposition, who have demanded a cabinet reshuffle or a fresh election as the price for their support."


End of story! What a shame theres always a bunch of cronies to kick the can one more time.

Where My Dawg At's picture

Looks like I picked the wrong day to quit sniffin' glue.

hedgeless_horseman's picture



...if Slovak politicians actually have this thing called conscience and don't have this thing called Swiss bank accounts...

All your politicians are belong to UBS.


the not so mighty maximiza's picture

Many C130's heading to Slovakia now filled with hookers, blow, and pallets of freshly printed fiats to get the right outcome.

GeneMarchbanks's picture

Hookers to Slovakia? That's like bringing sand to the beach man.

UGrev's picture

hahahaha.. you owe me a monitor!! LOL!

Cassandra Syndrome's picture

What's the deadline on the deal?

Dr. No's picture

"If I dont pass this bill in 5 minutes....just wait longer!!" all righty then.

Fips_OnTheSpot's picture

Deadline is the EU-summit, which was delayed a week (now Oct 23rd) earlier this day.


Pure coincidence, OFC.

French Frog's picture

I wonder how many new swiss bank accounts have been created today and will have a healthy balance come the EFSF vote tomorrow

DoChenRollingBearing's picture

Smart new Swiss bank account holders should make sure that not all of their holdings are euros...

jtmo3's picture

Translation.....we will get what we want and will pass this shortly after tomorrow. Anyone hoping for a vote down, is plain jacking off.

edotabin's picture

Again, nobody can be 100% certain.  Similar situation with Ireland a couple years back. Overall, I can't see Sulik or any other Slovakian party standing in the way of this. Actually, I'm getting to the point of thinking it is naive to believe otherwise.

I hope for the best but am 99.99999999999999999999 % expecting the worst.

TradingJoe's picture

50/50 y'all! But "surprise-surprise", eh?!?!

DoChenRollingBearing's picture

Stand tough Slovakia!  Someone has to have the stones to say: No Mas!  Someone here needs to have the same.

Enough bailouts already!

SheepDog-One's picture

Theyve got nothing to lose, maybe Slovakia wants to be remembered as the only one sane of the bunch and took out the bankers....Slovakia would be the new Switzerland!

UGrev's picture

If there's one thing that I've learned from my time @ZH --

"everyone has a price.." 

SheepDog-One's picture

Not Iceland! the little frosty Land of Bjork has more balls than any of these tough-talkers put together!

UGrev's picture

The Reserve wasn't met. 

TheFourthStooge-ing's picture

Not Iceland! the little frosty Land of Bjork has more balls than any of these tough-talkers put together!

Iceland definitely has balls; it would not be wrong to refer to it as Sackistan.


dracos_ghost's picture

Except I believe the loose translation of No Mas in Slovakian is:


Let's use this crisis to the fullest. We have these autocrats in the EU A-List sweating bullets so let's stick it to them and get huge kickbacks. Oh and buy the ES at 11:58pm our time OK.

Roger Knights's picture

Yes, we have no mañanas

We have no mañanas today

falga's picture

Slovaks will comply because the rest of Europe will punish them if they actually vote with their common sense...

Rynak's picture

"Punish" them? With "what"? Less debt? Less access to being raped by parasitary exporters? WHAT?

The only thing they can "punish", is politicians getting less "foreign contributions". The domestic economy and population doesn't give a shit!

fajensen's picture

Yeh - That fat retard Poul Nyrup will write them an angry letter and call them names, like Austria.

kaiten's picture

Someone will make a lot of money overnight, I suspect.

lemarche's picture

Still waiting to hear about anything called "politician insider trading enquiry", but no I guess, that s plain legal.

jdelano's picture

Brussels think-tank CEPS suggested that the EFSF will need to be expanded to USD 6trl and that as a result France will lose AAA ..



6 trillion.  that sounds about right.  

SheepDog-One's picture

'$6 trillion EFSF bailout for insolvent Europe......MEH a mere drop in the bucket, chump change! The unemployed will cover the bill surely!

Tao 4 the Show's picture

Funny part is that the few European leaders who realize this is insane but don't feel strong enough to buck the system are secretly rooting for the Slovakian kill.

SheepDog-One's picture

Maybe its all just a ploy, Europe knows it cant handle $6 trillion in printing, so they get the little guy to pull the rug out as theyve all positioned to short the insane euphoric conditions and REALLY make out like bandits on the collapse! And even if this all passes, how long does it last, a week?

I dont believe Europe wants this, its just smoke screen.

jdelano's picture

I am too.  Is there a Sulik fan page on Facebook yet?  Going to check....

hambone's picture

Go long complicity and sellouts, short courage and reality.

Deadpool's picture

can't short successfully at Zero

Belarus's picture

The Slovak "hold" is just a bunch of ye-hawing so the market will have an excuse the rally another 3.5% tomorrow, too. I predicted a 7% increase in stocks this week; I may have been too conserative.

Don't worry, it's as digusting watching this shit to me as it is to you.