Slovakia rejects European bailout plan

[Javaman]

http://money.cnn.com/2011/10/11/news/international/slovakia_bailout_vote/index.htm?iid=HP_LN

NEW YORK (CNNMoney) -- Lawmakers in Slovakia rejected a plan late Tuesday to expand the powers of a bailout fund for banks and troubled European governments.

The development, which was tied to a vote of confidence in the government of Slovakian Prime Minister Iveta Radicova, is a bit of a setback for European leaders that are struggling to deal with the continent's growing debt crisis.

Slovakia is the only member of the 17 nation euro currency bloc that has not approved the plan to overhaul the bailout fund, known as the European Financial Stability Facility, or EFSF.

Tuesday's "no" vote does not necessarily mean that the plan to expand the EFSF is dead. But the vote means Radicova will resign. The incoming government could hold a second vote on Thursday or Friday, according to a spokeswoman for the Slovakian Parliament.

More at link...

[Pale Blue Dot]

1. People don't realize how screwed we are.

Things are so tenuous right now that this one tiny country could bring down the entire world economy. All it takes is for some country to say "Enough's enough" and it's all over.

[tama]

2. Not all over

but a new beginning. This is our chance to grow up and evolve. Getting over being screwed and starting to learn and work together.