Slovakia objects - Slovakian government falls

Slovakian Parliament has shown its objection to the European Financial Stability Facility (an enhanced rescue fund) in a slightly peculiar fashion.

Only 55 of 124 lawmakers present in the room voted in favour, while nine were against and 60 did not vote, effectively blocking the fund and toppling the four-party coalition cabinet of Prime Minister Iveta Radicova.

The country's leaders said earlier they would try to pass the EFSF revamp in a repeated vote with support from the opposition, but no date has been fixed for that vote yet.

The opposition is not that opposed to the EFSF but it does want an election and hopes to get enough votes to form the next government.

Slovakia's leftist opposition Smer-SD said Tuesday it was ready to team up with the outgoing government to vote in favour of the eurozone EFSF rescue fund in exchange for a snap election.

Richard Sulik, the hope of all free marketeers, and "the rebel leader of the coalition's minority member, the Freedom and Solidarity Party" abstained.

While this seems to be terribly significant, the likelihood is that it will not be, as the Financial Times explains:

The Slovak parliament will remain in session and is likely to hold a second vote later this week. Three of the four parties in Ms Radicova’s coalition support it and the left-wing opposition SMER party led by Robert Fico – who called the vote a “fiasco” for the government – indicated that it would be prepared to support the measure.

“There is an assumption that, one way or another, the EFSF will be approved by the end of the week,” Ivan Miklos, the finance minister, told parliament during a fiery debate that captured the attention of officials across the EU.

The net result may well be a more left-wing government in Slovakia that will abandon such ideas as the flat tax and is no more likely to stand up to the EU shenanigans than is the present one, with the exception of Richard Sulik.