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Slovakia Rejects Plan To Expand EFSF, Government Falls
From Reuters:
- RTRS-SLOVAK PARLIAMENT REJECTS PLAN TO EXPAND EFSF, GOVERNMENT LOSES CONFIDENCE VOTE
- SLOVAK OUTGOING GOVERNMENT EXPECTS EFSF TO BE APPROVED IN REPEATED VOTE, LIKELY THIS WEEK
Details From Bloomberg:
- Total of 55 lawmakers of 124 present back the motion, short of required majority of 76 deputies; 9 were against it.
- Rejection also triggered the fall of Radicova’s government as the vote was tied with a no-confidence motion
- Smer, largest opposition party, which didn’t back the legislation, will support the changes in a second vote, ensuring it will pass, party leader Robert Fico told rporters
- No date has been set for new vote; Finance Minister said revamped EFSF will likely be passed this week
More:
The euro pared gains against the dollar on Tuesday after the Slovak Parliament rejected the plan to expand the European Financial Stability Facility (EFSF).
The Slovak government also lost a confidence vote but the EFSF package is expected to go through in a later re-vote because the outgoing prime minister planned to ask for help from the opposition.
The result had been anticipated after a junior party in the coalition said it would abstain.
All of the 16 other euro zone countries have already ratified the plan to give more powers to the EFSF.
Insert clip about the Spanish inquisition.
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Bankers lose! Yipeee!
Partys over bitchez! the music stopped!
Unfuckingbelievable!
The cash-stuffed envelopes must not have arrived in time for the vote.
Nah.. the sellout price hasn't been reached yet. The politicians know this is important. They're charging a premium for their vote.
someone's dieing in a "accedental" car exploshion tomorrow.
Terrorists! oh wait, are they brown? no? um...terrorist sympathizers!
Guess what, Slovakia will now be the scapegoat when EFSF dont pass, Merkel and Sarkozy will not get the blame when the Eurozone collapses and the EUR becomes a thing of the past.
WMDs found in Slovakia in 5..4..3..
Did everyone stop reading and not see the part about a new vote later this week? Unfortunately, this is a non-event. The EFSF show will go on.
Vote will get delayed yet another week or so. Kicking the can down the road for as long as they can get away with it.
Yes, even here at the almighty ZH, we have headline perusers.
Did anyone REALLY believe there is a conciousness amongst the party electorate (to include ours/theirs) to do what is right in the end? More sideshows/placations/posturing..... the REAL never ending story...well, until it ends of course.
I'm sure enough enjoying the show though; watching from my hillbilly haven.
I see. That would explaing the big fat UNCH in the Euro. Thank you.
Right... Robert Fico said this clearly... He just want Radicova out of the game, but he likes the idea of expanding EFSF. So it happened. Now it is the right time to receive the envelopes. There is still enough time for Radicova to initiate another vote and voila...
Easier and cheaper to vote her out than rig a "catastrophic engine failure" on her chopper. That one was tried already, anyway....
Only 9 against. A non-story. (or at least a non EFSF story. Opposition abstained to bring down govt. Will pass EFSF later in the week.)
That doesn't nessesarily mean that the ECB will go balls to the wall with EFSF even if it is passed.
http://freegoldobserver.blogspot.com/
I cannot imagine Slovakia will be allowed to stand in the way of what the wise men in Europe want to do. I suspect they will just be ignored in some manner.
Apparently they can opt out :
above quote credited to
http://ftalphaville.ft.com/blog/2011/10/11/699521/ty-kokos-slovakia-reje...
where more complete story.
Someone promised me a donut if I voted for something.. and that donut never showed up. So I just voted against whatever that something was..
That's right, Homer -- stick to yer principles! (Mmm, donuts...)
I find it hard to believe that anyone would leave it up to Slovakia (is that really a country?) to save the system!
The small countries are fucking awesome - Iceland, now Slovakia
HAhahahaha!
Nanny nanny boo boo!
Looks like it's risk off bitchez.
Yes it is a culture and country.
Hey pal.....blow me! I'm Slovak, and back when the USA actually MADE STUFF, the steel mills and mines where full of honest, hard-working Slovaks.
Slovakia is the result of Czechoslovakia breaking up into two sovereign nations.
why so negative response, i am from slovakia and pupton is right, moreover only 8 men voted against! Slovakia is the same worldwide story, leaders are changing, political class is not changing, powerful men and froups get from state budget and state property what they want....its the same ratrace as everywhere else, Only when the system colapses we can get more free system, just look at Iceland...lets hope the colapse will come sooner, maybe we could speed it up by taking more a more debt more and more quickly....in this way, the smart man would vote YES :)
They lost the battle, but unfortunately, they always win the war.
Their legions of undead bootlickers won't stop until they're either all gone or they succeed.
Perhaps. But not today!
So true, they'll just proceed as planned.
A mouse doesn't stop a Merkel.
Also, at the end of the week they'll do a second vote. Wanna bet what the outcome will be?
End of the week is a long time from now. We are after all in a time warp bubble where trades can be filled before the bid is even made.
Awesome "Zeitgeist" sarcasm.
Those blasted neutrinos! What's their hurry anyway? :>D
enjoy it while we can...
soon Merkel will say she will take one euro salary and pay for all the bailout and Dow goes to 3 million.
enjoy it while we can...
soon Merkel will say she will take one euro salary and pay for all the bailout and Dow goes to 3 million.
Miller time!
Predictable Bitchez. Good on the SAS Party, Classical Liberals through and true.
Followed soon by night airstrikes time!
'Marxist Time' more like ...you can smell the sick scent of bankruptcy that follows these idealistic goons throughout history ..they used to stink one country out at a time, now they stink entire continents out
Marxist-Socialism: people learning to be Dumb & Dumber decade after decade
Wht does that mean? Everybody drinks their own piss?
I'll take it. Even if we win just for a week, it is still a recorded victory!
God bless the facade!
Reminds me of the first TARP vote. But since the US government couldn't collapse, they had to take out "the market" instead.
Mighty white of them to wait for the US markets to close to release this news. We'll have a rumor about a plan about a plan about a rumor about another planned rumor to possibly address the plan that will fix Europe by tomorrow AM to drive the market up again.
+1. I noticed that too. This can-kicking is getting to be like Zeno's Paradox; When you shoot an arrow at a target, it can't ever actually get there because first it has to go half the distance, then half the remaining distance, then half the half, and so on forever.
it goes without saying the only thing Socialists can achieve with unerring accuracy is the complete bankruptcy and descent into the sewer of whatever country they get a stranglehold of
...that and recently screwing poisonous (energy efficient) lightbulbs into every Europeans household sockets ....while these peanut brained idiots 'save the planet' expect half of Europe to die of Mercury poisoning over the coming decade and go quadruple bankrupt as 'going green' (ie. deepest Commie red) pumps up the prices of energy, every product in the shops, every transport system and the cost of garbage
the EC sure know how to corner the market in garbage, these 'leaders' redefine the term
Unlike Zeno's Paradox, in reality, the arrow actually reaches the target.
The arrow would just keep going if that pesky target weren't in the way!
In the style of Tina Turner:
"What's reality got to do, got to do with it?"
You should have bought the rumour of the planned plan that there was a rumour in the offing.
I did.
And randomly find that I might be on the right side of a Euro bet. Course it's all bullish.
Don't worry, Asia will drive it down, I don't think China will appreciate the result of the complex European democratic decision making so much.
If you're a democrat, you're part of the problem.
If you're a republican, you're part of the problem.
Vote NO CONFIDENCE 2012!
if you're a Progressive, you are the problem.
If you're a Conservative, you are the problem.
Wow, original.
if youre a former fed chairman running for president, you are the problem
If you could depose the FED and you're too busy running for POTUS you are the problem.
If youre Herman Cain, youre an ASSHOLE!
Too many people fearing Herman Cain around these parts. What is the problem with a Black Guy with a Conservative Resume, warts and all? Nobody is Perfect, and I have a feeling that NOBODY is going to run him.
If you think there is a problem, YOU ARE the problem.
Doh!
Life is a state of mind.
lol...if your claim to fame is you are a community organizer and therefore are qualified to be a senator or president...and get elected...everyone has a problem.
There are two types of people in this world:
Those that divide people into two groups,
and those that don't...
Is Mr. "No Confidence" a Democrat or a Republican? I can't read much past the (D) or the (R) and I sure as hell can't write him in... {SARC} How about vote Ron Paul instead?
If you believe that, then take your money out of the system.
If you have money in a major financial institution, withdraw your money and put it into a credit union or physical gold/silver.
Mass default is the only effective tool that the people can use to force change on the system.
By 1933, 11,000 of the US's previous total of 25,000 banks had failed.
So yes, let's all put our money into local credit unions. Assuming the government doesn't confiscate the money, they're totally 100% safe.
plop.... cheers!
That's why they joined the confidence vote to the EFSF vote?
The Socialists would not vote confidence?
Clever move by the junior coalition party.
Should be good for a couple hundred points tomorrow. Buy buy buy!
Who woulda thunk the Slovaks had so much in common with the Icelanders.
It's downright retarded to ask your constituents to pay more so some tax dodging Greek can have his early retirement.
Yeah, right, the rest are all doing this because they pity Greece. EU-- known for its compassion.
Similar population sizes along with Norway, Denmark, Croatia, Ireland, Scotland. If toss in Latvia, Slovenia, Estonia, and the larger Austria (all under 10 mil in population things could really start cracking. Throw in a few 10 mil states ala Belgium, Sweden, Portugal and Greece and you start to have critical mass.
Right, cuz Portugal and Greece are against this. They just want to default and take their medicine. Wait...wha???
Actually, YES, their populations and domestic markets want just that!
But i guess, that's not what you meant. You were just once again confusing multinational interests (megacorps, megabanks, politicians) with national interests (99% of the polulation, and domestic market) - am i right, or am i right?
Oh, so....the Greek people protested when the politicians doled out the treasure and now that the cupboard is bare, they are wagging their finger and saying "I told you so?" Sorry, there is no dichotomy here. The banks are bad, the politicians are bad, and the people (who demanded gevernment money for nothing) are bad.
Yes, they don't want the bailouts, but they don't want default, either. Either way, they are faced with austerity...and that is what they are protesting.
But, I guess that is not what you meant. You were just once again confusing a populist dream (the populations of Greece, Portugal, Italy, etc. were against spending other people's money on them; they just wanted to work and be left alone) with the ugly facts (the developed nations have been on the wrong path for nearly a century and in the democratic nations, that is the people's fault). Am I right, or am I right?
Actually, yes - they did NOT protest, when the ruling class did hide their hidden loans.... only when it became visible and they spent it all.
Your point?
You'd have a point, if you would argue, that the greek debt "as by magic" suddenly getting solved, people should already have gone "WTF?". The EMU, EU as well as the greek people failed on noticing this con, when it was plainly obvious.... but unfortunatelly, that is not what you argued about.
None of this however changes, that the popolations of most EMU countries are right fucking now saying "enough is enough".... while their politicians, megabanks and megacorps are saying "more! more! more!". So no, regardless of past failures, the situation right fucking now is, that the "representatives" of nations are in total conflict with their populations - so don't fucking blame the populations for what they are doing "NOW".... at most, blame them for failing to act like they act now EARLIER.
Wrong! Totally different. In Iceland the parliament sucked Eurodick. But a titular president instead of rubberstamping it, threw it open to a plebicite which killed it by 90%. In Slovakia, the actual parliament voted it down, at least for the moment. This is the first instance since the "crisis" that a national parliament pulled the Eurodick out of its mouth.
Don't worry, they're just taking a breather, they'll be right back to sucking momentarily.
Just decided to spend my holidays in Slovakia next year. Not too far from here.
Good beer. Nice mountains. Like living in 68'.
Ano!
Great bitches.
In Bratislava stay in the Hotel Kijev - retro 70's communist place. Avoid pubs with English stag parties.
No kidding, those English stag parties are ruining Eastern Europe.
http://www.singledudetravel.com/2011/01/a-plea-to-stag-parties/
Will you walk or ride yoru bicycle there?
Where is Slovakia?
How could they do this to The Bankers?!
Nice political game there, outgoing gov( a true one for a change) will be replaced soon with a pro EFSF one(a true EU style corrupt one) and they will pass their own financial demise with a smile and a swiss bank account!
this looks like the proving ground for dealing with Merkel and the big comeback of SPD
So SaS sacrificed their own power-straws in the coalition. Kudos to that, even if it doesnt help wrt EFSF, which will come via Socis (Smer) tomorrow anyway.
Euro bond yeilds to rocket tomorrow.
"SLOVAK OUTGOING GOVERNMENT EXPECTS EFSF TO BE APPROVED IN REPEATED VOTE, LIKELY THIS WEEK"
if at first you don't succeed..
Just like TARP... Failed first try, sweeten the offer with another $100B and some kickbacks, and walla - it passes. I'm sure the inbound government has already jizzed their pants in anticipation of being the hero.
Just like TARP... Failed first try, sweeten the offer with another $100B and some kickbacks, and walla - it passes. I'm sure the inbound government has already jizzed their pants in anticipation of being the hero.
That's "voila", dude, not "walla".
so what??? they will find a way to make them say YES...euro flat and trading at the highs of the day...and market flat still trading at the highs of the day also, even with a miss of alcoa earnings...so just buy the market and close your eyes
No doubt, but they just raised their bonus.
EURUSD down 25 pips. Oops. 20 pips.
yeah, buy the 12% rip in five sessions on decreasing volume with no leadership whatsoever.
fucking bagholder. disclose your long positions so i can make fun of you appropriately.
The only bagholder will be the ECB. All bad debts will eventually be monetized.
'Buy the markets'...why would any sane person buy these sickly dead markets which are not even trading above 1999 levels? Can anyone explain that? What, are people just SICK?
I sense a disturbance in the force!!
NIE EUROVALU AJ VLADE BITCHEZ!!!
Now we know that Slovakian girls are pretty.
Bitchin! Now break out those VZ58's and rock on while you finish cleaning house.
And the markets yawn.....
Clearly they expect these votes to continue until the 'Right' result is achieved. A new EU approved governing coalition should help.
And if that coalition fails, I see some never before discovered Al CIAda trainig camps in the Carpathians. Let the bombings begin.
Slovaks are not stupid. They are just voting no to get a better bribery deal. Ya can't just jump at the first offer, shit people.
Don't drink the punch at the celebration party Slovak Politico's, you may not come back to vote again
Got to keep it levitated till the sheep file in.
LOL, always convinced at any minute that 'retail sheeple' are about to pile into stocks at any minute! Too damn funny.
EURUSD could care less.
week-end in Bratislava to celebrate in bitchez style???
IF ONLY THE UNITED STATES CONGRESS had such conviction to REJECT Paulson's bank bailout plan. The world would be in a much, much, much better place today with the bankrupt carcasses of Goldman, B of A, Merrill, and JP Morgue.
"United States Congress" and "conviction" in the same sentence? If only!
After millions of calls from people like us, Congress DID reject TARP one fine Monday.
Then the pork and payola really kicked in, and it was passed by the end of the week.
But still, Monday did happen.
"For the world is hollow, and I have touched the sky."
...
It's a win for us today, but we all know that Slovakia will wind up supporting the EFSF. This was simply a political move in Slovakia.
Oh well, keep buying gold and silver.
yes and yes.
Slovakia government is voted down, coalition break down.....ESFS down for few days!!!! coool This got a huge support here in Slokiakia, doing what we can to stop this bullshit but they will vote for it in a few days....damage done but...!!! hold fingers crossed that it will fail again.
I still can't believe, but I think this is a reason to be proud of you country and the political ethics of some despite the increasing and unbearable pressure they were exposed to. I know most of the Scandinavian, German, and Dutch public will stand by your side.
Really interesting but at the same time very telling how younger democracies with less polluted political systems point the rest of Europe the right direction.
I really hope, this will not get lost in the process. But I sure believe critical voices of the above mentioned people will become louder and will make the damned bail out pact more and more complicated.
From an obkective point of view, I think it is a kind of pervert arrogance by established European economies to drive up and coming nations like Slovakia into debt to save stubbern, old and inefficient economies like Italy.
I really hope, the spirit of freedom from debt shining from a loud and explicit 'no' vote will remain in the heads of Europeans!
Time to organise a movement in slovakia to continue voting no.
Occupy insertnamehere
... and create a movement in Finland, Netherlands, Germany and Austria to threaten kicking out their governments if they dare to exert pressure on Slovakia or do no respect the position of a legitimized European government.
This is an embarassment to the old European governments. The opinion of most of the people was only respected and reflected in a relatively new European democracy. If they don't want a major political shift towards atomization, they need to follow what the public wants, it asks for due to a very reasonable danger.
young people here in Slovakia very happy now. I expect the Facebook in Slovakia to go down in few minutes :)) some people still confused but majority of young is absolutely against ESFS. Spam all email boxes of our parliament guys...hopefuly all of them can read in english, but they will be shocked by the international support. We need your help to vote this down here in Slovakia. I dont vote for Sulik or any other politician, I m for no government at all. But glad to help young people to get a chance in the future. Support us sdku@sdkuonline.sk email adress - ministry of finance Party. He knows economics, voted for ESFS but I know he will understand what is right! Have a nice evening guys. Gold and silver bitchez ;)
proud of country because there was altogether only 9/150% which actualy is fukin unbelievable around 6% of representatives with principal and moral attitude?
wake up here evryone praising my country!
I am proud of Slovakia, for the high quality and the best spirit that locals do from plumbs much more than any vote in parliament mate.
http://www.youtube.com/watch?v=TBxLwZPzCOk&feature=related
How we doing? Any converts today?
Not a one, nay, nay, nay
We've flattened their fingers
We branded their buns
Nothing is working
Send in the nuns!
The Inquistion, what a show
The Inquistion, here we go
We know you're wishing
That we'd go away
So, c'mon you Moslems and you Jews
We got big news for all of yous
You better change your point of views today
'Cause the Inquistion's here and it's here to stay
Let's hope for a Constitutional challenge.
GO FOR IT SLOVAKIA
...you're ahead of the curve, ok 1st Govt lemming over the cliff, the entire EC/EU/ECB herd of political retards are packed tight behind you
'Strength through Diversity'... great European Communist, sorry Commission, motto that from mass produced Marxist zombies
Democracy a`la EU-dictatorship: You will vote as many times needed to end up with the predetermined result set by us, the unelected political elite in Brussels held hostage by the international banking cartel.
I say burn in hell...
#OccupySlovakia
http://www.youtube.com/watch?v=q7vtWB4owdE (sorry for the lead in commercial)
Uhh...where is Slovakia anyway?
BREAKING NEWS!
France has approved a loan from Germany to the Slovaks, so that they can contribute to the efsf.
Whew! That was CLOSE!
where the fuck is all of the uber-high "bearish sentiment" that i keep hearing about?? all i see around here (of all places) are a bunch of momo bulltard assclowns suggesting that you buy 12% rips in five days, or beaten down humiliated shorts, totally dejected and scared out of their mind to get back in.
short interest has completely vaporized. longs are about to get their clocks cleaned.
Good for Slovakia. They are the new Irish before the Irish . . .
Let's see how Bloomberg "News" spins this one.
From Mayor Antoniette's News: http://www.bloomberg.com/news/2011-10-11/slovakia-parliament-to-vote-aga...
"A total of 55 lawmakers of the 124 present backed the motion, short of the required majority of 76 deputies. Nine were against it."
Either 60 of them were on vacation or Bloomberg is telling us only 9 voted against the European Financial Stupidity Facility.
They are interviewing these guests that have billions in CDS´s that will go bad if they do not pass this EFSF....they will not come clean and say they own them...but you can tell by the sweat on thier brow that they do own them...I hope they do not pass....but I also know they will pass it...the game goes on...and the can is kicked...and Greece wins in the end...how do you spell stealing in Greek...
What's this Greece stuff, kimosabe?
The banks and their uberclass clients win in the end.
FTFY.
So the next government is gonna lick the boots of the bankers uh?
Can we send a plane-load of Occupy Wall Street folks over there to show our support?
Too bad they can't afford food, nevermind a plane ticket.
One of the happiest days for our democracy !
One of the saddest days for crony capitalism :)
If the rest of the EU doesn't like the way they vote....replace the government with people who WILL vote the way they want.
Three Cheers for Slovakia! Intelligence wins!
If the rest of the EU doesn't like the way they vote....replace the government with people who WILL vote the way they want.
Arrow's impossibility thereom applied to the EZ during a time of crisis implies likelihood of further failures as stakes are raised.
AA Q3 = BIG MISS
Storm in a teacup. Later this week second vote. EFSF passed. No crisis. Boring world we live in.
1500 CET (0900 ET): Ms. Prime Minister, there is an American named Geitner on the phone..
PM: Hallo?
TG: Madame PM, how is the EFSF vote going...
PM: Not well, Mr. Geitner. Apparently, some of our citizens are troubled that the lazy, feckless Greeks are getting money because they have beaches, while Brusselles makes us starve..
TG: Would a new GE light bulb plant help you? Or a new JP Morgan office in Brataslava?
PM: Actually, we can't afford to pay the electricty already and we've had quite enough of American.. and German.. bankers.
TG: Do you mean this vote could actually fail? Really, can't you do what we do in the US and have a bank payoff the politicians?
PM: Perhaps, but it may lead to civil war and the Austrians and Hungarians are no longer willing to invade and provide the kind of good government we had before 1914.
TG: OK, well then please delay the vote until after 2200 CET until the US markets close...and we'll reserve a nice Greek holiday for you after your government fails. Would five years in Mikonos do?
PM: I think we have an understanding, Mr. Geitner. All the best luck with your imminent meltdown.
Slovakia does what we Germans should have done...respect! (more so when its done by hardcore libertarians of the rare breed)
Well done not confusing Libertarian with Liberal like that tard up above.
this is a preview when a bankrupt California comes to the other 49 states looking to get money so they can pay their bloated pensions (that no one else promised)