Update: EFSF Vote Delayed.... Liveblogging The Slovakian Parliamentary/EFSF-Vote Session

Tyler Durden's picture

Update: Slovakia’s Lawmakers Delay European Bailout Fund Vote, WSJ Says. WSJ reports that Repeat vote on EFSF may be held later this week; unlikely to take place Wed. as more time for political talks needed, WSJ reports, without citing anyone. Govt expected to lose confidence vote, paper says. However, the confidence vote is expected to still pass, or rather, fail. Which would lead to a government reshuffle into a configuration that will pass the EFSF vote. All speculation.

From the WSJ:

Slovakia's lawmakers have delayed a crucial vote on an expansion of the euro zone's bailout fund, a move that renewed concerns about the prospects for the region as European Central Bank President warned the crisis has "reached a systemic dimension."

 

Slovakia, the poorest country in the bloc, is the last of the 17 euro-zone countries to vote on the €440 billion ($600.34 billion) European Financial Stability Facility, which was agreed upon by euro-zone members in July to address the euro zone's debt crisis.

 

After months of painstaking negotiations and political jockeying, the agreement to expand the bailout vehicle, crucial to the euro zone's strategy for containing the debt crisis, remained up in the air amid a split in Slovak domestic politics.

 

The government of Prime Minister Iveta Radicova is expected to lose a confidence vote she has linked to the vote on the bailout fund in an attempt to sway rebels in her four-party coalition to back the bailout fund.

 

However, a repeat vote on the EFSF could be held later this week and passed, if the government receives the support of opposition lawmakers from the left-of-center Smer-Social Democracy, or Smer, party. This would likely require a cabinet reshuffling. The repeat vote on the EFSF is unlikely to take place Wednesday as more time for political talks will be needed.

 

Finance Minister Ivan Miklos, who has supported increasing the firepower of the European Financial Stability Facility, on Tuesday took to the floor to present the EFSF accord to the legislature.

 

"We're the final 17th country to endorse the EFSF," Mr. Miklos said, adding that the rejection of the fund would risk bringing about a new economic crisis.

 

"This time even a worse one than the 2008 crisis after the collapse of Lehman Brothers," Mr. Miklos said, referring to the U.S. investment bank's bankruptcy.

Original:

In terms of binary events on today's docket, the most important for the euro and eurozone by a wide margin is the Slovakian EFSF-ratification vote which is set to begin shortly, and where hopes have faded that a favorable resolution can be reached, at least in the immediate horizon. Those who want to follow developments in real time can do so courtesy of the following live blog at sme.sk updated every several minutes.

Google translated from SME.SK and here is the same using the Microsoft translator

The Government is in danger of collapse. If SaS nezahlasuje for the extension of the eurovalu, Prime Minister, probably resign. Members of the direction of the odprezentujú, but shall not vote.

18:43 SaS supports Iveta Radi?ová , page Richard Sulík retrieve papers that have at last prepared to impeach Prime Minister party Smer , Robert Fico .

18:42 "This is a strange debate, one will not relinquish their position, I do not understand quite why it takes so long," said SME Berlin correspondent of British newspaper The Guardian Helen Pidd. Although devoted to the middle of Europe in Slovakia and Bratislava never unwritten is the first time. "It's amazing that such a small country currently holds the possibility of Europe before going further. Perhaps Angela Merkel and other politicians here watching what was going to happen, "said Helen Pidd. Its a British newspaper under it tomorrow from the trip to Bratislava prepare great story, but this topic will be on the front page.

18:36 Julius Brock also takes slots famous quote "the tanks to Budapest." "We will have a chance to go to Budapest tanks, because next year the army tank Slovakia at the end, "KDH member said.

18:30 Brock says stoutness SaS causes the breakdown of government. He recalled that the euro has also approved a Malta. "Philip Maltese have more MPs than the choir of the National Council?" he asked.

18:28 MP for KDH Julius Brock at the beginning of speeches joked that if he gave up his speeches, comforted by SNS chief John Slota , who has been in a hurry. Slota absentee among the largest in parliament.

18:24 Defence Minister Lubomir Galko criticized the coalition partners that have joined the vote of confidence in articulating the Government. "The government is now likely to end. Finishes unique way. Expire after the vote that is contrary to the Government's Manifesto."
In the speech mentioned that SAS does not matter to maintain government functions. "Also, the glue that stuck us to minister to chair and forced us to betray our beliefs, even invented." In the past, declared the head of the CSSD , Mikulas Dzurinda , has invented the glue that stuck it to the top party post.

18:10 MP for SNS Rafael Rafaj said that who will report for the euro, remove the breakdown of the euro. Several members of the coalition by surprise when mentioned that reading the Financial Times .

18:04 Council of Ministers of Foreign Affairs of the European Union has expressed an optimistic opinion on the vote of the Slovak Parliament on eurovale.

"I believe that the Slovak political representation confirms the shared responsibility and commitment to the common euro currency and to the European Union," said President of the Council, the Polish Foreign Minister Mikolaj Dowgielewicz.

18:02 If the euro fails, will be under the MEP Anna Záborská European leaders also seek mechanisms to bypass the consent of the Member States.

17:55 Meeting Chairman Pavol Hrušovský asked members whether they agree that the eurovale also discussed the 19th hour, when the Parliament session ends normally. Politicians agreed, it is expected that the debate can continue until midnight. Immediately after the debate to be voted on.

17:52 Sulík to sit down and Polia?ikovi John Po?iatek from directions they try to explain something.

17:43 The head of the club Most-HID László Solymosi called SAS to maintain responsibility. Zutekanie from voting according to him will not solve anything. "We in the club supports the Government Iveta Radi?ová . "

17:30 "Your words about solidarity, I believe if the benefit eurovalu base its flat," Figel addressed Richard Sulik . "On the personal invective, note ... I think it's pretty dull, I will respond," said Chairman of KDH immediately. "We are opposed to tax harmonization," said Figel. Sulík Under EU law it is coming to this step.

17:27 After some time he returned to the Chamber Richard Sulik.

17:25 From OKS will vote for the euro only Šebej Francis. Osuský Peter, Peter Rabbit and Ondrej Dostal shall not vote. "So we agreed," he said. I regret it that Šebej has a different opinion. The split got afraid.

17:20 "I regret that the government is at stake in their own way," said Figel. "KDH was inclined until the last minute compromise. The time has not expired, to vote," said Chairman of KDH. Prime Minister has in his full support for his party.

17:13 "When solidarity is well set, it's worth," said Figel. He cites the Dutch newspapers that say about the threat eurovalu. "Colleagues do not offer you a better answer booklet also does not help," said Figel. Members SaS reproached that they want to be among the extreme right, which in Europe voted against eurovalu.

17:07 The debate will also sign KDH chairman Ján Figel . "If there is no responsibility, nor will it have more freedom," he said. "If the rules were not followed neutekajme from the field, but their participation can vylepšujme."

17:04 "As a nation state interest of Slovakia adopted euro and the national interests of the Slovak Republic have a strong, stable, pro-European oriented and primary national debates hardened government," said chief Smeru Robert Fico .

16:53 combination of voting by Fico excludes the opposition from voting. "Because the government says no and yes eurovalu." According to him, depends on the coalition, or take a test vote on eurovale articulating and confidence in the Government, although not enough votes.

16:51 euro or Slovakia voted by an even greater foreign pressure in the second vote, or forget to Slovakia, Europe. Slovak financial markets affect the vote. Says Miguel Otero-Iglesias ESSCA of the Paris School of Business.

16:48 Smer chairman Robert Fico said during a speech that today's events is a consequence of the creation of right-wing government. "For the state of the coalition government, can only and only the ruling coalition. It's a tax, the government of what you've built." According to him štvorkoalícia unstable from the beginning, because it created the six subjects. The CSSD, ODS, SAS, and Most-HID counts and OKS members and ordinary people.

16:44 European Commission President Jose Manuel Barroso at a conference in the Hague, Netherlands, Slovakia asked for approval to increase eurovalu. It's in the interest of Europe and in the interest of Slovakia, said Barroso, writes portal Wall Street Journal

16:33 spoke and Smer chairman Robert Fico .

16:30 Some coalition members according to Hrušovský decided to defect. "Obviously its obligation to millions of people from the beginning did not understand," said SaS behavior. The whole club by KDH Hrušovský support for the euro and the calling of a vote of confidence in the Government Iveta Radi?ová .

16:28 KDH chairman Pavol Hrušovský club claims that SAS is gambling. "One political party gives valuable chips to play," said. The chip called the stability and credibility of Slovakia.

16:25 President Ivan Gasparovic has been in regular telephone contact with Prime Minister Iveta Controller. "We cried together several times," said his spokesman Marek TASR bugler. Gasparovic is currently on an official foreign visit in Indonesia. Whether or his stay in Southeast Asia is shortened by bugler depends on developments in Slovakia. But he added that road already cut down on the day.

16:18 Coalition Party CSSD, ODS and Most-Hid by Stanislav Fo?t SaS prevented the opposition is supporting euro when combined vote of confidence in articulating the Government.

16:17 George Offal Dzurinda rated performance as "training". Martin Polia?ik of SaS Dzurinda asked whether he is sorry that before the adoption of Slovakia into the EU "po?ahovali" one number for each number, and now customize how it fits. "They should learn from our partners to be responsible," told Polia?ik.

16:13 MEPs react to the presentation of Mikuláš Dzurinda .

16:10 Dzurinda said that the combination of voting for a tax position SaS, which has steadfastly refused to euro. Nothing in his coalition obliged to believe.

15:56 If the Slovak Parliament has rejected a rescue mechanism for extending the euro area can be strengthened without the euro in Slovakia , on Tuesday said Austrian Foreign Minister Michael Spindelegger. The second alternative is to evaluate the situation completely anew, he said.

15:51 Dzurinda Sulík commented by saying that if people had collected on the euro, would not be a penny. "Ko?kože cents were collected by the state budget, where people could voluntarily choose" to think CSSD head.

15:47 From first ministers spoke foreign minister and CSSD chairman Mikulas Dzurinda . Eurozone in his struggle for his rescue, euro as a tool, which unites the whole world. "We are one of those seventeen, and we do not skip even that one percent?" Dzurinda asked. He said in parliament today not negotiable for Greece or Italy, but the chances of future homeland.

15:36 Martin Chren from SaS said that Prime Minister does not understand the step to vote for articulating eurovale teamed up with confidence. "Your government has had a mandate to correct decisions and actions," he said with a team that already lost the mandate of European politicians who have already adopted euro

15:29 When Radi?ová dohovorila, coalition members zatieskali. He joined the Sulík.

15:29 Radi?ová refused Sulíkove words that eurovalu approval is a violation of the government program. The result, according to the discussion it should not be winners and losers, but an acceptable compromise and mutual understanding is. "A government that does not perceive the change of situation, does not deserve to govern," she said.

15:27 SaS is liberal in Europe attracts. In other European countries against eurovalu is performed mainly by the nationalist and extreme. The exception is Italy, where the government teamed up with a vote of confidence eurovalom, so it did not support the opposition.

15:23 Euro is under threat Radi?ová situation in world and European economy. "We must act quickly," she said. "If we require accountability from the European partners, we must behave as we do," saying Radi?ová. Solving the impending economic recession, according to her can not be solved at the national level.

15:20 When she started talking Prime Minister, members of the Smer began returning to theaters. It is also Robert Fico.

15:18 The word of the Prime Minister signed up Iveta Radi?ová . At the beginning of speech mentioned the prime ministers of Ireland and Portugal, which has been in contact. Portuguese colleague allegedly told her "heart-attack causing my condition."

15:06 U.S. ambassador to Slovakia Theodore Sedgwick followed a speech by Richard Sulík standing. Crush, which is on the balcony in front of him, he defended the view. The balcony is full of diplomats, some of them translators simultaneously interpreted speeches of politicians.

15:05 Sulík finished his speech the issue of Prime Minister Iveta Radi?ová . "Are you sure that you are acting correctly?"

15:04 The euro is under Sulík gambling. Connection with the vote on eurovale articulating trust the government considered "blackmail". "I'd rather be as exotic in Brussels , as ashamed before my children, "explained why SaS not support the euro.

15:02 Sulik said that the extension eurovalu "massive harm taxpayers." According to him, the alternative is not to support the euro and the troubled countries should immediately begin to manage effectively and sells off state assets.

14:58 Richard Sulík repeated that approval of the increase is contrary to the statement of the Government programme eurovalu. "In particular, contrary to the sense." He claimed that the SaS neodmieta everything related to the constant violations of the agreements with eurovalom, it is only v. "Why is it necessary to increase eurovalu, when any other country of the nezachránime?" he asked. By extending the eurovalu under Sulíka to Slovakia to bail out foreign banks.

14:51 We have laid the oázku SaS boss district: it is right that a party does not want to budge even at the cost of the fall of the Government of euroval for? Here is your answer.

14:45 After Richard Sulíkbegan talking what, gone in the direction of the members of the Hall. "This we will not listen," explaining why the departure. Rozkradli this country that invaded their Sulík.

14:44 In the debate should stand out Iveta Radi?ová Prime Minister, the Presidents of the coalition parties and some Ministers of the word is also apparently make themselves known. Preliminary vote is expected after 18.00 h.

14:39 Speech by Finance Minister Ivan Miklos took about half an hour. As one of the last argument stated that clubs economic analysts surveyed. The report shows that 81 percent of the experts is the increase eurovalu. Currently acting Chief Financial Committee of the SaS Kollar, who is the rapporteur on the proposal.

Miklos 14:37 When talking about populism in eurovale, ministers Krajcer Daniel and Joseph Mihál started laughing.

14:28 Speech by Ivana Mikloša picks up more than twenty cameras all sorts of media, in Parliament, is around one hundred journalists. The majority of the members of the roundtable discussions on their laptops and tablets of zaplnuté. They also follow the happenings on the Internet.

14:27 Ivan Mikloš says in the Parliament of the reasons why many MEPs approve euroval, Facebook and discuss the SaS have opened there.

14:26 It is an ideal solution, not the "Euroval is not without cost. The problem is that today we have no other alternative, "said Mikloš. Do nothing or refuse euroval means it increases in costs. In any country is not easy to persuade people of the eurovale under Mikloša.

Mikloš gradually "refutes" the myths of eurovale. So is it that they fired the money. The "Euroval borrows on the markets and with a much higher interest of their countries provides." This means that, according to the Mikloša can collect the proceeds. "Portugal Ireland whether this has helped."

14:20 Seventeen governments and parliaments of 16, according to Miklos agree that the euro is the prerequisite for solving today's situation. "This debate is highly politicized in our country." Populism is always harmful, referring SAS.

14:16  Milan Hort leads meeting of CSSD, Sulik sitting next to him. The proposal justifies Ivan Miklos .

14:12 Parliament resume. In addition, members sit in the pews Prime Minister Iveta Radi?ová and members of the government. The meeting does not control Richard Sulik , but Milan Hort (SDKU).

14:10 The near collapse of the government trade association of medical worry. His boss Marian Kollar said that they are four important requirements, not the government.

14:04  The Parliament came Iveta Radi?ová. The journalists wanted to talk.

13:48 Euro divided the small coalition party OKS. Encourage them are committed members of Peter Rabbit and Francis Šebej. With their attitude disagree party colleague Ondrej Dostal and Peter towel. "In the division we are in such a vital issue, which is not good," said Šebej. Disintegration by OKS while he threatened. "About true that we are all stubborn," he said with a smile.

13:46 Ivan Miklos on the financial committee Even before the negotiations said the fall courses . Euro according to him should be approved as soon as possible.

13:44 Béla Bugár deemed unnecessary for the coalition after the failed vote on eurovale still negotiate with the SAS. "For what shall we agree?" he said.

13:31 step of the coalition parties were negotiating on the promotion eurovalu, but finally agreed because it won the testosterone, says Matovi?. "It was the last step to each other to do, but they were not willing to do it. Nobody. Unfortunately, "he told reporters in Parliament today. "Winning testosterone and common sense to stay home," he underlined.

13:23 European Commission President José Manuel Barroso is on a business trip in Holland, but is fully informed about what's happening in Slovakia. "We can say only that really, really hope that Slovakia will report today, as needed and as the last country ratifies the European euro area financial stabilization mechanism, "said his spokeswoman.

13:12 The vote on the future Eurovalu waiting in the Parliament of the World newspapers as The Washington Post, The Guardian, The New York Times, and foreign diplomats from around the world.

Michal Werbowsky writes for newspapers in English Austria Vienna review. "For Austria it is a very important story, of which we ran a subtitle on. Slovakia as a small country seems to be after twenty years of radical economic reforms a little tired of them, "said Werbowsky.

13:06 Sulik said that than the first will be voted on eurovale. Members approved the agenda for an hour and it stopped the negotiating committee to eurovalu.

13:03  Richard Sulik opening session of Parliament.

13:01 Finance Minister Ivan Miklos (ODS) before the vote would not say whether he will negotiate with the direction, if not supported by SaS. Described the allegations as absurd Sulík that someone wants the resignation of prime minister. "Absurd, was convicted of lying."

12:58 President Mosta-Hid Béla Bugár claims that the rejection of a motion of no confidence eurovalu governments should sit coalition partners, but without the boss SaS Richard Sulík .

"The quartet I already deemed unnecessary. You know, what are we to negotiate?" Or must be supported by a declaration of early elections in the spring, did not want to speculate. Asked if can imagine the direction of governance, Bugár replied: "Yes."

12:55 Erika Jurinová of ordinary people (club SaS) thinks that the coalition caused a schism in the "vanity of the two sides failed to agree." According to the terms of ODS and SAS.

12:48 From Ordinary people will vote for Martin Fecko, sees this as a vote of confidence. "For us, freedom, would have given free hand so its Members other parties, it would turn out differently," said chief Igor Matovi? ordinary people. When asked on the future of the coalition, he replied that "the funeral was not kidding."

12:48 "Certainly for (euro) calling the," said Vice OKS Ondrej Dostal . How exactly will you vote said to have second thoughts.

12:47 If you should go so far social policy of the government and its instability, it would be better if she fell. He thinks that President Emil union KOVO Machyna in connection with today's vote by Parliament eurovale and confidence.

12:42 The meeting starts at 13.00 h, MEPs say after opening the President should declare an hour break for discussion.

Fico wait, what does the coalition

12:38 Direction by President Robert Fico has to prevent a coalition government to reconstruct, in a renovated government wants to join, but for early elections now speak .

"There are 79, if you reconstruct the government, as it can be avoided? We do not intend to enter the restored government, "he said. According to him the direction of a single obligation if a coalition proves government's inability, and the obligation to ensure approval eurovalu.

"We wait, what do ODS, CSSD, Most-HID and waited for them as below. The solutions are, but you wait when you take the exam, "he said.
12:35 The Parliament came from Peter Rabbit OKS. Half an hour before the vote could not tell how it will be he and his three colleagues to vote. "I do not know what to do, is unacceptable for me, vote for the downfall of the government."

12:17  "It's a shame, but I respect the decision of Madam Prime Minister. I think we forget that right-wing voters," said SME Interior Minister Daniel Lipšic (KDH). Coalition falls under it for a few people too much stubbornness.

12:07 "It is unreasonable pressure in the same rhetoric of blackmail," commented MEP Jana SaS Kiššová decision to a vote on Prime Minister eurovale and confidence. According to the coalition, thus allowing the return of Robert Fico, who specifically did not want to say. "It should be noted that Fico will not return alone. He can not return itself to him to be someone to help."

12:01 euro according to the latest survey 36 percent of Slovaks rejected .

Members will vote Direction

11:55 Smer chairman Robert Fico has confirmed that its members are zaprezentujú, but not vote. The three ruling coalition parties and will not have enough votes, and thus may fall by the government. Fico refused to speculate whether the coalition in a possible re-vote gives votes for approval subject to declarations eurovalu early elections.

"Nešpekulujme," responded. According to Fico's coalition must pass the test if the first vote shows that can not provide enough votes for the euro, "must meet the political parties that want euro". Fico said that nobody has contacted the coalition while the euro has helped to take direction.

11:53 The Parliament is coming more and more members - mainly from the direction. They have a good mood. Some of them joked about the way forward. "Grand coalition," says one of them.

11:46  What about after our eurovalom NOT ? Blockade of Slovakia according to the magazine Der Spiegel seen as a disgrace to the rescuers of the euro, which causes disturbances in the markets and create pressure on the debtor nation eurozone.

11:43 censure Prime Minister Iveta Radi?ová would mean the end of the whole Cabinet. If the government loses the confidence of the National Council, the President shall withdraw. The current government, however, should exercise their functions until the appointment of a new government. The president has the power to choose the person who tries to assemble a new Cabinet.

"It depends on the president," said SITA Dušan Nikodým of the Institute of State and Law Sciences in response to a question whether it should authorize the formation of a government winning the last parliamentary elections, Robert Fico.

The government agreed to United vote

11:38 on Tuesday, according to government information agency SITA agreed with the proposal of Prime Minister Iveta Radi?ová to liaise with eurovale vote on a vote of confidence to the government. Journalists did not inform anyone about it, no media outlet or not. The media have given a press release.

11:35 The Parliament is still low members. Security guards at the gatehouse in listening to Bocelli Time To Say Googdbye .

11:35 Smer will present to Parliament to proceed to vote on eurovale and confidence. "Members zaprezentujú, but not vote," said spokesman Erik Tomáš Smer. The Group further that discussion.

11:32 Combining key decisions and reforms vote of confidence, although it is extreme, but in the world nezriedkavý political move.

11:30  Major European indices are falling, investors are waiting to vote on eurovale the Slovak parliament.
 
11:17 SaS squad members stood in the headquarters, several hoped to unite the government with a vote of confidence eurovalom. Slowly, however, farewell to the ruling coalition. Consistently claim that the SAS was a different opinion to reject the euro, despite the threat of government collapse. "Certainly not, nobody even thought of," said Martin Horseradish. According to Peter Kalista protested even those members who, after retirement from government ministers have to resign from Parliament.

11:11 "It is obvious that the role of the opposition position to benefit, but what we do, we do not know," said Smer MP Robert Madej.

Sulik said no

11:09 Government ended, ministerial limousines leave. Vote on the magnification eurovalu vote of confidence Iveta Radi?ová. SaS ministers voted against this resolution.

10:59  SaS leader Richard Sulik Liberals after the meeting, said his members will not vote for the euro even if coupled with the confidence of the government. "vote will not participate," he said before boarding Sulík Group. "Important is, how many party members, but kept in a phalanx."

Sulik said he is opposed to the euro combined with the confidence of the government, "is a step towards the return of Robert Fico." Also, it is by disabling Sulík that the euro has passed with the support of the opposition.

"SAS is the most prime minister, neintrigovali we are against it." Sulik said that it is not happy with this development. "The government should continue to govern and to pursue reforms. Obviously the thing that is in conflict with the Manifesto is more important, I'm sorry." Sulik still could not tell in what "constellation" would behave as SaS. He would not answer the question whether it would support a minority government.

10:51 Continued government meeting. There are also three of the four Ministers in SAS. Economy Minister George Michael is missing. Is labor in Indonesia.

10:41 The Parliament of obstruction can be expected, the scheme will be Robert Fico. The ruling coalition does not have enough votes to make the vote even began (read more) .

Prime teamed up with the fate of the government eurovalom

9:46 Iveta Radi?ová Prime Minister at a press conference announced that SAS rejected the last offer. Prime Minister therefore announced a coalition partner, the euro combined with a vote of confidence.

Last offer should include a veto vote on a permanent (second) eurovale.

Radi?ová said she talked with the president to decide on further action if the government falls.

9:38 According to join Prime Minister WE eurovale to vote on a vote of confidence. About 10.30 am the government should sit.

9:28 The meeting ended at the Government Office. Figel, Dzurinda, Bugár and Sulik go. Definitely will probably decide on the tenth, when the Republican Council shall meet at SAS.

9:12 Coalition Board is complete. Journalists were sent to the new Government Office building.

9:09 at the Government Office is already Richard Sulik. Together with the head of the OKS Peter Zajac on arrival looked solemn, the journalist stopped.

9:07 Igor common man Matovi? slightly delayed. Ran into the building.

8:58 at the Government Office is waiting for Richard Sulík. Iveta Radi?ová is already at the Government Office. Awaiting the results of negotiations a number of foreign media , including two German television. Slovakia is the last country to approve the increase eurovalu, Malta adopted it in the evening .

8:26 If you have nerves follow the course of our coalition crisis.

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knight99's picture

I was waiting for this. 99% it goes through but just in case it doesnt it would be nice to see.

GeneMarchbanks's picture

Bloomberg says it goes through, which is fine. This is basically signing onto the accelerated collapse.

max2205's picture

Bribing at a feaverish pace now

r101958's picture

max - How true! In the end it will pass. The circus that is going on now is taking place so they can secure as much money and as many promises as possible for the future. I will believe that a country will vote this whole charade down when a true statesman (person, whatever) gets up and says 'We need to stop this madness for ourselves and for our country'. This, as opposed to presenting a case about how it does not meet the letter of the law. Sulik is probably only saying what he is saying to placate his constituents and garner more money/return. It is all figured out....who gets what and how much.....down to the last vote.....just like here.

trav7777's picture

The Statesman will be outvoted.

Slovakia is going to hold out for some concession to Slovakia.  This is exactly how the process works in our Congress. 

WTF does it really matter?  Oil production started falling in earnest in 2006, clear C&C peak.  It's going to lead this in whatever direction it's going.

Why clamor for total collapse instead of a steady slide?  Get as much as you can out of it while you can.

Mr Lennon Hendrix's picture

What does it matter?

It doesn't, until it does, and now because the fiat ponzi is on the verge of collapse, and because peak everything is setting in, it matters.  We must rebuild our society before the crash, or else the power hungry New World Order will still hold the reigns.  We must hold the power, because it is ours to hold.

Keep marching!

Occupy MAIN STREET:

http://money.cnn.com/2011/10/10/news/economy/occupy_wall_street_protest/index.htm

MsCreant's picture

There is a lot to dislike about Travis, like the willfully racist shit he spews around here. Makes this blog something I am embarassed to be a part of, at times. But posts like this make it clear to me why I can't hate him. We may not want to hear what he has to say, but we need to hear it.

This fucker is a negotiator for a living. I smell the truth of what he is saying. For most of the players of this game, there is no honor, only strategy. Travis is pointing out how this will play out on both the macro (national) and micro (you) levels.

I'd love to say "Gee, lets all work together, change the system, and improve our chances." It ain't gonna happen. Mother nature, through peak resources, has her own ideas about how this is going to go down. Not enough of us realize it, or understand what it means, or care to effect real change. We need the shit scared out of us collectively and as long as the majority can find food and draw breath easily, real change ain't gonna happen. When it does, I fear a totalitarian situation.

This shit:

Get as much as you can out of it while you can.

I find the most distasteful of all. And I fear it is probably going to be the best way to play it because collectively, we are too stupid to do anything else. It's starting to get rank in this here old petri dish. 

Pseudo Anonym's picture

it would appear that you can cast your vote on the left hand side of the page where it says "anketa" at www.sme.sk (ano = yes bailout, nie = no bailout).  google translates that "how would you vote if you were a representative?)

Don Birnam's picture

### BREAKING ### FOR IMMEDIATE RELEASE ### BREAKING ###

Slovakian ruling government falls...Prime Minister resigns in disgrace...replaced by two Co-Ministers, who will have complete authority over monetary and fiscal policy in Slovak Republic...AP first to obtain photo of newly-installed Co-PMs...available for immediate distribution...

http://czechmatediary.com/wp-content/uploads/2009/05/wild_and_crazy_guys...

Jay Gould Esq.'s picture

I just spilled my coffee. Damn hillarious.

vast-dom's picture

If you can't be just, be arbitrary.

If you can't be smart, be retarded.

Belarus's picture

Yeah, delayed until enough fucking arms get twisted. 

Au_Ag_CuPbCu's picture

Delayed LOL, I guess we need to brace for the rip fest in the S&P on this bullish news.

Belarus's picture

The rip fest isn't scheduled until last half hour of trading. Jeesh, where ya been? The ALGO's were tuned for massive ramp later today....just in case "no" came in today. 

So, expect an unprecendeted move higher into the close for no fucking reason at all.

gojam's picture

Thanks Tyler.

Lone Mad Minute Medic's picture

So it looks like they are kicking the can into next week when they can form a new parliment to get rid of the no votes. Great! Death by a thousand cuts.

erik's picture

It is painful to read...

Zgangsta's picture

You mean "it is the text pain of eyeballing it"?

Ronaldo's picture

Another week, then it gets approved.  Very unfortunate.  Market will probably go up 500 points today!

Manthong's picture

Geez.. if they pass it ,  it will be proclaimed to be better than the second coming and the shell game market will probably explode to record daily highs.

 

yabs's picture

Tyler

by this "and where hopes have faded that a favorable resolution can be reached"

You mean he will vote in favour of it?

a favourable vote from where I ma satnding is hios voting against it

you are saying he will turn  coat?

Azannoth's picture

I see an ironic twist of events unfolding, if Slovakia refuses they will get kicked out of the Euro not Greece

Arius's picture

now...wouldnt that be funny... though, it seems to me to be in perfect line w/ how everything else works in the world ...

big day for slovakia ... these people are known for their stuborness and hate of russians .... i think ...

Nascent_Variable's picture

THIS IS SLOVAKIA!

Just once it would be great to see a politician hold the damn line on a principled stance.

trav7777's picture

they will hold out for more payola for Slovakia if they are "principled."  This is how it works in our Congress, which appears to be what the EU has devolved into now

YHC-FTSE's picture

That's how I read it. Slovaks are stubborn, but everyone has their price. One week in politics is a very long time - enough for the SaS to cave and enjoy their new RR Phantoms being delivered as we speak. Since it is tied to a vote of no confidence, probability of the coalition government crashing next week: 5%. Yeah, yeah. I hope they hold out, but hoping against the low human nature of the political class is a mug's game. 

yabs's picture

how can anyone vote for this bullshit

when our civilisation ends its root cause will be no coomon sense what so ever

anyone who votes for this is mentally retarded

stirners_ghost's picture

Next time you're building a civilization, leave politicians out of it. Politicians are the opposite of civilized, having only violence at their disposal.

Are you kidding's picture

Next time you build a civilization...keep the enslaved...enslaved.  Give them an inch and they want a mile!

Zgangsta's picture

A little more English friendly blog, with Sarah Palin pulling a Basic Instinct:

http://www.guardian.co.uk/business/blog/2011/oct/11/stock-markets-ahead-...

i-dog's picture

A little more Euro-friendly, I think you mean! The vox-pops are of little old pensioner ladies saying the Euro is good for Slovakia ... even though a Greek pension is 4 times that of a Slovakian pension!?!

I also liked this gem: "hoards of journalists who have descended on the city from all over the world". Someone has been hoarding journalists instead of gold ... not a good alternative!

NotApplicable's picture

Oh, boy, complete with an appearance by Roubini, who states the obvious problem (now that it's obvious), and gives the obvious create a bigger problem "solution."

My own assessment and analysis is that there is more than a fifty percent probability that in more advanced economies…there is going to be retraction. Whether you call it a an economic contraction, a double dip recession, whether you call it a continuation of the first recession, a second recession, the most important thing is that there is an economic contraction, whatever name you want to give to it…One important question is whether it is going to be mild or severe. The answer to that question depends on what happens in the Euro zone.

You need a big bazooka of at least 2 trillion euros to avoid self fulfilling runs on illiquid but solvent countries. In Europe everyone is talking…and no action is taken. And every other hour another minister is saying something different and sometimes the same minister is saying different things on different days. There is a whole cacophony of views and confusion.

Helicopters will not do, we need freakin' big bazookas now! Then I just love the idea of illiquid, yet solvent countries, because, just look at all of that loot they've got! I still expect to see Soros own Greece, if he wants it. 

tarsubil's picture

Bazookas? Why not hellfires loaded with FRNs? Just have the drones drop them into every dissadent's home? 

Cassandra Syndrome's picture

 

13:31 step of the coalition parties were negotiating on the promotion eurovalu, but finally agreed because it won the testosterone, says Matovi?. "It was the last step to each other to do, but they were not willing to do it. Nobody. Unfortunately, "he told reporters in Parliament today. "Winning testosterone and common sense to stay home," he underlined

WTF? Winning testosterone? 

Arius's picture

he might be bold ... it seems testosterone is the reason for boldness ...

GeneMarchbanks's picture

The males have been co-opted while estrogen remains skeptical, BUT! if you work the neck and nipples for like five minutes they'll almost always give in.

Dental Floss Tycoon's picture

+1 Aha yes, the oxytocin gambit.  Used it many times.

trav7777's picture

Just use Jedi Mind Tricks on them

NotApplicable's picture

Google translation, FTW!

What's even funnier is that the translator is growing worse all of the time, as it is learning to translate by reading it's own junk translations that have been posted all over the net.

"Winning testosterone and common sense to stay home." Now that's just beauty. I wonder now, when Google becomes self-aware, will it be retarded? A digital idiocracy gone wild?

Rynak's picture

As i used to say: Updating is downgrading

Mae Kadoodie's picture

You have to speak Jedi to understand this.

GeneMarchbanks's picture

There are six mushrooms yet to vote, eleven desk clerks are hiding dirty stockings behind the treadmill and we're now approaching midnight in a perfect world. Cue Dj Shadow.

What is it you didn't understand?

IrritableBowels's picture

http://www.youtube.com/watch?v=nmzHRGoKca0

 

...in case anyone thought the entire post was random.  Thanks for pushing pause on reality.

UGrev's picture

what... you don't speak Jedi? FAIL..

Comay Mierda's picture

Speak Jedi to understand, you must