Eurozone crisis bumps along

The Slovakian Parliament has voted against approving the 440 billion euros for the European Financial Stability Fund.  The ruling coalition tied the vote to a vote of confidence. The next step will be to form a new coalition and it is likely that the negotiations will centre on holding a general election.  The opinion has formed that now the political parties have paved the way for an election the EFSF vote will be carried later this week.

(Postscript: See: http://www.spiegel.de/international/europe/0,1518,791319,00.html  )

The problem is that many in Europe believe 440bn euros is insufficient and the 2 trillion euros will be needed by the EFSF.

Matters are moving on apace.  I have provided links to a number of reports which may be of interest.

http://www.bbc.co.uk/news/world-europe-15265987

http://www.telegraph.co.uk/finance/financialcrisis/8821238/Slovakia-rejects-enhanced-bail-out-fund-government-falls.html

The one  below is most interesting:

http://www.telegraph.co.uk/finance/financialcrisis/8819837/Slovakias-rebel-isnt-a-nationalist-hes-the-hero-of-all-discontented-Europeans.html

http://www.spiegel.de/international/europe/0,1518,791181,00.html

Below an excellent article from Spiegel:

http://www.spiegel.de/international/europe/0,1518,791151,00.html

http://blogs.telegraph.co.uk/news/danielhannan/100110211/slovakia-fetches-the-eurocrats-a-delicious-blow-across-the-chops/