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Slovak leader: EU bailout fund 'a road to hell'

Slovak leader: EU bailout fund 'a road to hell'

An influential member of Slovakia's ruling coalition vowed on Wednesday to block a plan to boost the powers of the eurozone's bailout fund, calling it "a road to hell."
Richard Sulik, leader of the Freedom and Solidarity Party and parliamentary speaker, told The Associated Press that such measures are pointless.
All eurozone nations must give their consent before the "European Financial Stability Facility" can be given new powers, such as buying the bonds of governments struggling with their debt loads.
The (EURO)440 billion ($620 billion) fund will become the eurozone's main tool to fight the debt crisis by acting pre-emptively to help governments before they are engulfed in a fullblown crisis.
The Slovak government approved the plan to beef up the rescue fund on Wednesday.
Sulik says Slovak lawmakers will vote on the matter some time this fall once all other eurozone nations have delivered their verdict.


Updated : 2020-12-03 16:37 GMT+08:00