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Slovakia Passes EFSF Expansion Vote

Tyler Durden's picture


Well, that's that.

  • 114 voted for the EFSF, 30 against and 3 abstained from 147 present (out of 150

More from Reuters:

- Slovakia's parliament ratified a plan to bolster the euro zone's EFSF rescue fund on Thursday, after voting to hold an early election as demanded by the opposition.


A junior party in the country's ruling coalition torpedoed the cabinet on Tuesday in a confidence motion connected with ratification of the plan to give the European Financial Stability Facility (EFSF) more powers to fight the debt crisis.


The failed attempt had rattled financial markets. The opposition committed to provide votes for the EFSF in a repeated vote, once the early election plan was approved.


Slovakia was the only one of the 17 countries using the euro single currency that had not approved giving the rescue fund more powers, a measure European leaders say is urgently needed to save the currency zone from financial ruin.


The difficulty ratifying the EFSF expansion in Slovakia is a sign of the challenges European leaders face responding to the debt crisis across 17 countries that must all act unanimously.


With 5.4 million people, Slovakia accounts for less than 2 percent of the currency bloc's population and 1 percent of its output, but its parliament could effectively veto the measure.


The delay in enacting the July deal comes even as other leaders are wrangling over further steps to protect euro zone banks if Greece defaults on its debts.


The EU will hold a summit on Oct. 23 to adopt more measures to counter the crisis.

Now: perhaps we can finally get some details of what will happen next instead of just blind short covering squeeze on rumor-based headfakes? Oh wait, we won't? Because there are no real details and it is all just rhetoric?


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Thu, 10/13/2011 - 11:11 | 1769537 prains
prains's picture


Thu, 10/13/2011 - 11:24 | 1769641 wombats
wombats's picture

You didn't think the CB's of the world would actually let a little upstart Slovakia hold this up did you?

TPTB will stop at nothing.

Thu, 10/13/2011 - 11:35 | 1769698 eureka
eureka's picture

Moreover - this - is exactly how Europe works:  ever pragmatic, ever 'last moment' actors when it comes to non-core issues, which then, nevertheless, will be solved.

Thu, 10/13/2011 - 11:36 | 1769704 dlmaniac
dlmaniac's picture


I heard they added a zero to the bribery check and re-sent it the Slovakian politicians. Some stubborn pain in the rear ones got a horse head in their bedroom instead but one way or another it's finally passed.

Thu, 10/13/2011 - 11:50 | 1769784 boiltherich
boiltherich's picture

I do hate to say I told you so....

Thu, 10/13/2011 - 11:59 | 1769823 machineh
machineh's picture


Thu, 10/13/2011 - 12:30 | 1769953 WonderDawg
WonderDawg's picture

We all knew this was going to happen, so no surprise, right? They may now proceed with a rumor of a plan for a plan.

Thu, 10/13/2011 - 15:10 | 1770591 Ira Thurby-Wright
Ira Thurby-Wright's picture

To the Slovakians (bribe or no bribe), Well Played!

Thu, 10/13/2011 - 11:36 | 1769699 dlmaniac
dlmaniac's picture

dup, oops

Thu, 10/13/2011 - 13:38 | 1770168 TheSheepWolf
TheSheepWolf's picture

The good thing is that Sulik's chances on blocking ESFS are not bad right now. AFAIK the parliament cannot do 2nd round of voting immediately. They have to wait 6 months... Constitutional court ftw

Thu, 10/13/2011 - 11:11 | 1769543 homersimpson
homersimpson's picture

No market uptick.. yet..

Thu, 10/13/2011 - 11:17 | 1769594 HelluvaEngineer
HelluvaEngineer's picture

Priced in.  In other news, these guys are SELLOUTS.

Thu, 10/13/2011 - 11:21 | 1769621 Smithovsky
Smithovsky's picture

The only way to make money these days is to think of the logical trade and then do the exact opposite.

Slovakia passed?  SELL!!!

Thu, 10/13/2011 - 11:59 | 1769826 eureka
eureka's picture

How about we all produce local goods and services, exchange them in universal currencies - i.e. PMs and or barters... - REF.:  Utah just passed law:  Gold & Silver is legal tender.

Maybe then we can all regain some real independence and self rule, while the centers of financialization and globalization power scams collapese.

Buy silver, crash JPM.  Push your local and state governments to set up independent PM currency rules. Check in with for inspiration and info. Godspeed, all.

CHECK:  Utah Sound Money Act.

Thu, 10/13/2011 - 11:11 | 1769544 Fips_OnTheSpot
Fips_OnTheSpot's picture


Thu, 10/13/2011 - 12:02 | 1769834 SilverRhino
SilverRhino's picture

The checks finally cleared.

Thu, 10/13/2011 - 11:11 | 1769546 curbyourrisk
curbyourrisk's picture

MOON SHOT on the way

Thu, 10/13/2011 - 11:12 | 1769547 knight99
knight99's picture

suspension of reality was good while it lasted!!

Thu, 10/13/2011 - 11:12 | 1769549 thatthingcanfly
thatthingcanfly's picture

The nail that sticks up the highest...

Thu, 10/13/2011 - 11:12 | 1769551 Sudden Debt
Sudden Debt's picture

Nobody saw that one comming... :)

Thu, 10/13/2011 - 11:15 | 1769572 Yen Cross
Yen Cross's picture

I'm stuck in a ditch. Fiat,Fiat? I'm starving to death! Someone please ? My 15 minutes of fame are running out!

Thu, 10/13/2011 - 11:24 | 1769552 Josh Randall
Josh Randall's picture

Slovakian resolve - we hardly knew ye

Thu, 10/13/2011 - 11:53 | 1769799 dracos_ghost
dracos_ghost's picture

Wasn't even close. At least a little more drama with a close vote would have left some credibility. But alas, poor Yorick, he owes me money Horatio.

Thu, 10/13/2011 - 11:12 | 1769553 DormRoom
DormRoom's picture

One Debt to rule them all, One Debt to find them,
One Debt to bring them all and in the darkness bind them

Thu, 10/13/2011 - 11:14 | 1769559 sunnydays
sunnydays's picture

Caved into the bankers, were probably threatened with their lives many times over, to make sure they passed it.  I wonder how the Slovakian people feel!

Thu, 10/13/2011 - 12:00 | 1769829 defencev
defencev's picture


Did not I say so? You are here bunch of idiots. It is not about banksters. It is about preventing global catastrophe. Absolute shit here just pretend any kind of moral ground. All they want is global default and their Gold piles shooting to the sky. Just simple, purely selfish crave for wealth no matter what will happen with literally millions... Forget about it. A little group of lazy, unproductive, selfish,stupid


Thu, 10/13/2011 - 12:31 | 1769956 Conax
Conax's picture

As opposed to the large group of paper investors who have caused jobs to be exported to cheapo labor land, who have cost taxpayers untold billions of dollars to bail out their little dependent asses, and who are doomed to go broke in the end anyway, while their leadership piles onto Gulfstreams for their exodus to the land of sandy beaches, fruity drinks and big titty housekeepers with everyone's retirement money.

But yes, damn those gold bugs for their evil crime.

Thu, 10/13/2011 - 12:34 | 1769967 Storch
Storch's picture

Actually it is about saving corporations that made bad descisions and misallocated capital. As a reward they will continue to make poor descisions. If weak banks died those left could profit from not having been retarded. Also, there is private capital that would leap out of the woodwork if tard lenders were allowed to fail.

Privatize gain socialize loss.

Mark to market when times are good, mark to model when they arent. Sice when did banks and now countries become such pussies.

Thu, 10/13/2011 - 13:33 | 1770152 Tao 4 the Show
Tao 4 the Show's picture

Mr. Defensive is probably a troll, but for the sake of others, this has nothing to do with gold or other short term investments. There are at least two definable problems at the moment: the immediate debts of Greece and others, and the ongoing deficit spending. The EFSF can bailout a few immediate issues like Greece, but there is no way to pay the accumulating debt of all PIGS and others. So what is the point of paying off bad loans made by the bankers now? Another hole will appear very,very quickly. The longer term problem can not be solved like this and neither can the near immediate problems of Spain and others.

The only way to keep the cohesion attempted by the promoters is to create a pan-European tax collection agency. That means sovereignty dies a quick death and the bankers move into a position of full control. This short term solution is just a prelude to the bigger one as the problems mount. This bailout will do nothing but keep the bankers rich and the system chugging for just a bit longer. It's a scam. At least there was a moment of seeming resistance and sanity.

The next chapters of this are inevitable and will be much more dramatic.

Thu, 10/13/2011 - 11:14 | 1769563 ZippyBananaPants
ZippyBananaPants's picture


Thu, 10/13/2011 - 11:14 | 1769565 YesWeKahn
YesWeKahn's picture

Most shorts either covered or squeezed out. Who is buying 238$ amazon? and 410$ apple?

Thu, 10/13/2011 - 11:42 | 1769741 gjp
gjp's picture

Can't believe how long these stocks are holding out, especially Amazon.  They will be the last to turn, but when they do look out.

Thu, 10/13/2011 - 11:14 | 1769566 nyse
nyse's picture

I'm shocked. Just kidding. As if Slovakia was gonna stop the machine..

Thu, 10/13/2011 - 11:14 | 1769567 SmoothCoolSmoke
SmoothCoolSmoke's picture

180 City.  Wow.

Thu, 10/13/2011 - 11:14 | 1769568 Caviar Emptor
Caviar Emptor's picture

Knew it. 

Thu, 10/13/2011 - 11:14 | 1769569 Archimedes
Archimedes's picture

Does not matter, the peasants seem to finally have awakened.

Thu, 10/13/2011 - 11:14 | 1769570 qussl3
qussl3's picture

So France wants the money for its banks, Allianz needs it too, not to mention the ECB wants that same pool to buy Spanish and Italian debt.

Well, that will end well.

Thu, 10/13/2011 - 11:15 | 1769571 Big Corked Boots
Big Corked Boots's picture

Just in case anyone held any doubts regarding the bankers ruling the world...

Thu, 10/13/2011 - 11:15 | 1769578 Iriestx
Iriestx's picture

To the fucking moon!  +1000 day on the DOW incoming!

Thu, 10/13/2011 - 11:18 | 1769598 HelluvaEngineer
HelluvaEngineer's picture

Sell the news coming...

Thu, 10/13/2011 - 12:16 | 1769881 legal eagle
legal eagle's picture

Yes, and gold down, up, down, up I mean flat as a pancake.  More Euro QE and PMs do dittily....?

Thu, 10/13/2011 - 12:43 | 1769999 HeNateMe
HeNateMe's picture

Patience my friend.  Patience.

Thu, 10/13/2011 - 11:15 | 1769580 dr.charlemagne
dr.charlemagne's picture

ok, great. In summary: multiple sovereigns have unsustainable debt and are insolvent. EZ banks have enuf exposure to sovereign risk that they are insolvent. solution: create more sovereign debt to recapitalize the banks. ohh boy, we are saved


Thu, 10/13/2011 - 11:20 | 1769611 tekhneek
tekhneek's picture

Could we witness a tri-hyperinflation soon?

I thought we'd see real deflation first then hyperinflation, but the more this shit gets kicked the more I think we might just witness an EU-Sino-US hyperinflation competition.


Thu, 10/13/2011 - 11:23 | 1769636 dr.charlemagne
dr.charlemagne's picture

as many ZHers have noted.....beggar thy neighbor

Thu, 10/13/2011 - 11:15 | 1769581 slaughterer
slaughterer's picture

Sell the ESFS news: the market sold the news on TARP approval in 2008.  

Thu, 10/13/2011 - 11:36 | 1769654 jdelano
jdelano's picture

and this is hardly tarp approval...  Jesus, we're talking about a vote here to ratify a measly 200bil expansion that was a foregone conclusion in JULY...and the Merkel/Sarkozy claims they're going to have this all wrapped up in three weeks? Europe couldn't find it's own dick with three hands and a flashlight.  

Thu, 10/13/2011 - 11:58 | 1769821 boiltherich
boiltherich's picture

Not quite as simple as that JD... "The package will boost the EFSF to 440 billion euros and give it the ability to buy sovereign bonds to give country's relief from deteriorating markets, extend emergency lending to countries, and recapitalise banks."  (emphasis mine)

The proposed $2.7 trillion they want to feed bankers with awaited this vote, because it was not the amount that was the problem, it was the ability to buy soveriegn debt and recapitalize private banks, these are the links required to essentially take the next step in the near three trillion more in what will be a Eurobond transfer scheme. 

Thu, 10/13/2011 - 12:20 | 1769901 jdelano
jdelano's picture

sigh.  Said this many times and will say it again--to lever up will require a referendum and amendments to the (german) constitution.  Also in order to get Germany to ratify the EFSF vote, Euro bonds were categorically ruled out.

Thu, 10/13/2011 - 13:54 | 1770247 boiltherich
boiltherich's picture

The ESM was ruled out, the EFSF was not.  The constitutional difference being that the ESM was to be a permanent facility with the power to issue eurobonds without the consent of individual member states.  That the German court said could not be done without a referendum that de facto transfered soveriegnty from Berlin over to Brussels.  But they hedged deeply when it came to existing facilities, and while it is true that the increase from 440 billion to $2.7 trillion for the EFSF mechanism could be challenged in a more more focused attempt to stop what you and I would call a transfer union the fact is that such a challenge would take a long time, a year at least, in the meanwhile the Chancellor and French president would have used the bulk of the funds as gifts to bankers.  Any ruling by the Bundesverfassungsgericht would be a massive case of lcoking the barn door after the horses are long gone. 

Thu, 10/13/2011 - 11:16 | 1769584 SmoothCoolSmoke
SmoothCoolSmoke's picture

Dow going nowhere.  Hmmmmmmm.  Ya never know.

Thu, 10/13/2011 - 11:21 | 1769624 SheepDog-One
SheepDog-One's picture

Going nowhere but down, so far anyway. Whole lotta Kobe bull beef trapped higher. Yum yum.

Thu, 10/13/2011 - 11:29 | 1769666 jdelano
jdelano's picture

judging by the sudden from the "this rally is intact" contingent here I'd say definitely.  If you didn't get out yesterday (bulls) you were either way too greedy or way too late.

Thu, 10/13/2011 - 11:33 | 1769686 SheepDog-One
SheepDog-One's picture

Had a volume market pop up 2% yesterday, whole lot of BTFRip bulls trapped way up there now.

Thu, 10/13/2011 - 11:16 | 1769585 Mr_Wonderful
Mr_Wonderful's picture

Priced in already, several times even.

Thu, 10/13/2011 - 11:16 | 1769586 UGrev
UGrev's picture

I fuckin' said it. EVERYONE has their price.. apparently the Slovaks do too. 

Thu, 10/13/2011 - 11:17 | 1769588 alien-IQ
alien-IQ's picture

looks like a few new swiss bank accounts got opened today.

Thu, 10/13/2011 - 11:17 | 1769589 No One
No One's picture

time to setup cameras in Bratislava to capture the coming riots.

Thu, 10/13/2011 - 11:17 | 1769590 LongSoupLine
LongSoupLine's picture

The long debate and fight to approve expanding an empty cardboard box to a larger empty cardboard box is finally over.  Let the healing begin.

Thu, 10/13/2011 - 11:17 | 1769592 tekhneek
tekhneek's picture

Wonder how much that vote cost.

$10k/vote? $100k/vote?

Thu, 10/13/2011 - 11:19 | 1769604 NotApplicable
NotApplicable's picture

Everyone check your pockets.

Thu, 10/13/2011 - 11:19 | 1769605 HelluvaEngineer
HelluvaEngineer's picture

2 cows, 1 goat

Thu, 10/13/2011 - 11:21 | 1769625 treemagnet
treemagnet's picture

I bet they required non-fiat compensation.

Thu, 10/13/2011 - 15:08 | 1770582 eurogold
eurogold's picture

Slovokia is a poor country. My guess 50,000.- per vote. To them that looks like alot of money. Stupid sheepherders that they are.

Thu, 10/13/2011 - 11:18 | 1769596 Nascent_Variable
Nascent_Variable's picture

I wonder if it was the carrot or the stick.  I'm betting the carrot.

Thu, 10/13/2011 - 11:18 | 1769601 Dick Darlington
Dick Darlington's picture

Slovakia just buried itself. Bye bye and congrats, you're now permanently and officially one of the debt slaves of banker-politico dictatorship.

Thu, 10/13/2011 - 11:19 | 1769609 Quinvarius
Quinvarius's picture

Sounds like a printfest is at hand.

Thu, 10/13/2011 - 11:20 | 1769610 SheepDog-One
SheepDog-One's picture

Uh oh, markets headed the opposite direction of where everyone thought theyd go, straight up? 

Wash, rinse, repeat, bitchez.

Thu, 10/13/2011 - 11:22 | 1769632 alien-IQ
alien-IQ's picture

might want to wait til after 11:30 to reach that conclusion.

you know how this shit goes once Europe closes for the day.

Thu, 10/13/2011 - 11:25 | 1769649 SheepDog-One
SheepDog-One's picture

Whole lotta tasty fattened Kobe bull beef trapped higher....commence BBQ in 5.....4....

Thu, 10/13/2011 - 11:31 | 1769672 alien-IQ
alien-IQ's picture

watch for a possible downgrade of Great Britain today. that could be a catalyst for a big move down.

Thu, 10/13/2011 - 11:49 | 1769783 jdelano
jdelano's picture

we need that, actually.  Watching this action tells me the pumpers are planning on trying a 3:55pm ramp fest.  Would be nice to see their backs broken and their heads cleanly ripped off.    

Thu, 10/13/2011 - 11:20 | 1769612 Kokulakai
Kokulakai's picture

Slovakia: May your children live long, and serve their masters well. 

Thu, 10/13/2011 - 11:23 | 1769634 Cocomaan
Cocomaan's picture

Keep voting until you get the answer you want.

Thu, 10/13/2011 - 11:24 | 1769639 SheepDog-One
SheepDog-One's picture

Now that theyve securely chained the entire Eurozone tightly together as 1 and pad locked it, safe to implode the whole Eurozone as one....commence implosion in 5.....4....

Thu, 10/13/2011 - 12:09 | 1769863 boiltherich
boiltherich's picture

Next in line to be taken to the woodshed, Finland.  Accused of the crime of shit disturbing by demanding collateral for any further bailouts. 

Thu, 10/13/2011 - 11:24 | 1769640 the not so migh...
the not so mighty maximiza's picture

all those hookers must be wobbling back to the c130s waiting on the tarmac 

Thu, 10/13/2011 - 11:26 | 1769653 Tense INDIAN
Tense INDIAN's picture

the markets didnt crash when the 1st time they voted no ...and the marets didnt rise when the voted yes

Thu, 10/13/2011 - 11:31 | 1769674 Monedas
Monedas's picture

Monedas wasn't foooooled ! Read my posts ! Iowa gets its ethanol subsidy, tooooooo ! Monedas 2011 Comedy Jihad Social Suck

Thu, 10/13/2011 - 11:34 | 1769691 Tipo anónimo
Tipo anónimo's picture

The conversation probably went like this "Look. Wenn Sie nicht don Hilfe dieser Arbeit, Sie gehen zu den Habsburgern anzuschließen. Verstehen Sie?"

(Look.  If you don not help this work, you're going to rejoin the Hapsburgs.  Understand?)  If my German sucks, blame Google :)

Thu, 10/13/2011 - 11:35 | 1769697 darteaus
darteaus's picture

You don't make money betting that people will change; you make money betting that they don't change.

Fiat currencies fail; bet accordingly.

Thu, 10/13/2011 - 11:41 | 1769730 Yen Cross
Yen Cross's picture

 Does anyone ) , STUDY?    E.U. banks want to shrink balance sheets!

Thu, 10/13/2011 - 11:42 | 1769739 falak pema
falak pema's picture

wheres that guy "oh so boring"...he should be having a field day/ Merry xmas...shock and amazement. Do Slovaks export their turkey and goose to USA for thanksgiving and Xmas?

Thu, 10/13/2011 - 11:48 | 1769777 Monedas
Monedas's picture

All the little Socialist Fairies on tippy toes, hoping that this time the Socialist Truth will reveal itself ! Ha ! Monedas 2011  Socialism is flawed from the git go....get over it !

Thu, 10/13/2011 - 11:50 | 1769790 PulauHantu29
PulauHantu29's picture

Print Baby, Print!

Thu, 10/13/2011 - 12:00 | 1769830 caconhma
caconhma's picture

Regardless of how long UE pretends that they have just fiscal & monetary problem, the reality is simple: any society must generate values to keep their citizens fed, warm, and happy, otherwise, all gimmicks will not prevent an econo-political collapse.

Right now, UC countries came to a point when every one is trying to screw everybody else with contributing nothing. Germany will be screwed until its own economy will collapse, and EU will go back to their early 1930s experience.

As for the USA, in a few years, China will stop supply America with cheap slave labor. By debasing US$, the FED will kill its reserve status cutting off US international blood-line. Then, no military adventures will save the USA from its own econo-political collapse.

Thu, 10/13/2011 - 12:03 | 1769841 earnulf
earnulf's picture

So Basically, the minority party held the ESFS hostage to a pledge to get an early election?   WTF!    They don't give a rats ass about morals or "standing up" in the face of economic BS, they just wanted to get an early election!    That's it, the European Union of Clowns will continue this farce for far longer than you or I can stay sane.    Time to crack open a cold one and tune into the US Clown show as we watch the Economic malestrom continue to grow.

Thu, 10/13/2011 - 12:08 | 1769860 adr
adr's picture

as I said before the relentless climb to oblivion.

Each new bubble grows ever larger which wipes out a greater area each time. This new bubble is totally global and nothing will be spared when it bursts.



That now makes it my Yahoo e-mail, Angry Birds on my phone, and now Zero hedge.

Can I sue the White House for mental anguish?

Thu, 10/13/2011 - 12:04 | 1769842 broke433
broke433's picture

Welcome to the lightning round!!!! buy buy buy buy!!!!

Thu, 10/13/2011 - 12:04 | 1769844 adr
adr's picture

Come on we all knew the giant ass ram was coming. Europe needs to have its turn to print so its banks can mark debt loss as profit. Then it's the USA's turn. Then China's, then Europe again, and over and over and over.

I just wish I could use my debt to offset income. Sorry .gov you don't get a penny and i'm taking my lifetime debt load and I want the credit payment now. You owe me $100 million because I am assuming a very high level of inflation in the future.

I wish we could all play by TBTF rules.

Thu, 10/13/2011 - 12:06 | 1769852 Joebloinvestor
Joebloinvestor's picture

Slovaks need to see which "elected official" has a new car, home, mistress or lifestyle.

I wonder how much Greek money went to lobby for this bullshit.

Thu, 10/13/2011 - 12:06 | 1769853 Gavrikon
Gavrikon's picture


Thu, 10/13/2011 - 12:08 | 1769859 HardlyZero
HardlyZero's picture

Won't many of "the 17" be going into Constitutional review of this new ESFS expansion ?

It seems Slovakia's Richard Sulik makes some good points (along the lines of Nigel Farage).

If the EFSF is up for these multiple state level constutional reviews...doesn't that still leave all this as some sort of race to get funding before there is a constitutional crisis ?

Thu, 10/13/2011 - 12:26 | 1769929 j0nx
j0nx's picture

Not even worth the effort it takes to type I told you so. Some bitches in Slovland got PAID baby yeah! Selling out your people for a comfortable life in the islands not as bad as it's chalked up to be apparently.

Thu, 10/13/2011 - 12:52 | 1770035 Dreadker
Dreadker's picture

Until those who got screwed find out the islands location ;-)  Then their bloody marys get REAL bloody ;-)

Thu, 10/13/2011 - 12:31 | 1769955 Fix It Again Timmy
Fix It Again Timmy's picture

Slovakia joins dancing with the stars...


Thu, 10/13/2011 - 12:55 | 1770040 Monedas
Monedas's picture

Hardy was Hitler's half brother ! He was Herr Shekelgruber's (Eng. shekel grubber) love child with his American mistress, Gertrude Stein ! Monedas 2011 Comedy Jihad Fantasy Blood Libel

Thu, 10/13/2011 - 12:51 | 1770030 Dreadker
Dreadker's picture

Did Sulik vote against still?  If so i'd like to send him another email for sticking to his principles ;-)

Thu, 10/13/2011 - 13:00 | 1770062 LookingWithAmazement
LookingWithAmazement's picture

Slovakia agrees. Told you sooooooooooo.

Thu, 10/13/2011 - 13:56 | 1770259 jomama
jomama's picture

wow, that was amazingly tough call.  how on earth did you get it right?

what's your secret?

Thu, 10/13/2011 - 13:13 | 1770099 AldoHux_IV
AldoHux_IV's picture

Broke insolvent countries issuing more debt to solve a debt induced insolvency-- who needs details? If I was a martian, I'd think twice about bailing out a planet led by psychotic, pederass chasing, cocaine sniffing, hopium smoking degenerate politicians.

I guess slowly leaking out non-details and rumors then rinsing and repeating those headlines is good enough for the markets-- trade what you see bitchez! Everything's fixed nothing to see here.

Thu, 10/13/2011 - 13:43 | 1770191 randomdrift
randomdrift's picture

Slobovia!  But for a fleeting moment, it look as though they had some integrity, unlike the rest of Europe. 

Thu, 10/13/2011 - 14:56 | 1770536 Grimbert
Grimbert's picture

It was always going to pass, no extra bribes.

The opposition was for it, but wanted to use the occasion to bring down the government. Only one party in the governing coalition was against it and still are.

So the opposition used the opportunity of a split in the government to bring it down. Nothing to see here, please move along.

Thu, 10/13/2011 - 15:06 | 1770569 eurogold
eurogold's picture

What did it take? a couple quickly established swiss accounts, and its all over. It was only a matter of how much they extorted from Germany that is the question.

Thu, 10/13/2011 - 15:06 | 1770573 BlackholeDivestment
BlackholeDivestment's picture that's called accepting the mark of the beast. Sealed in the black hole ...bitchez.

Thu, 10/13/2011 - 16:48 | 1771115 Fíréan
Fíréan's picture

At least they didn't all get rounded up to take a crash landing flight into the foggy woods.

Thu, 10/13/2011 - 17:04 | 1771189 Buck Johnson
Buck Johnson's picture

All this is rhetoric and obfuscation.  The member countries don't want to come up with the hundreds of billions of dollars (in fact 3 Trillion) to bailout Greece and the other piigs and their banks.  They would rather bailout their own banks and take the hit instead of other countries banks.  All this is doing is bailing out the private sector banks by putting the debt on the back of the EU govt. with the most money. 

Thu, 10/13/2011 - 22:38 | 1772117 Dreadker
Dreadker's picture

Dear Mr Sulik,


Thank you for standing by your principles.  As you said, being a pariah is only viewed badly by those selling out their children and grand-children.  Although I am in the USA now, I was born and grew up in the UK, have visited Slovakia as well as most European countries.  If you ever need a safe haven from the madness of this current world, you are more than welcome at our dinner table, and we can offer a place to rest your head (and your family).  I support anyone against this current bailout madness to the fullest and commend you on holding your ground to the last, and hope you fight against this corrupt system as long as you can.


Thank you - From both my wife, my unborn children and myself.


- My email in support of someone with more balls than most in these times...

Do NOT follow this link or you will be banned from the site!