Tiny Slovakia Just Made the Giant European Debt Crisis Worse

Behind the Parliamentary wrangling that made Slovakia the only one of 17 states to vote no.

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In a move that surprised and irritated many people hoping that Europe had found a way out of its sovereign debt crisis, tiny Slovakia just potentially scuttled the whole plan. The nation's parliament voted against an expansion of the Euro currency zone's bailout fund, which would have provided more relief to debt-ridden Greece and other indebted nations, according to Business Insider. Slovakia, a small (its 5.5 million population is right around Denmark and Finland) and relatively recent addition to the Eurozone, is the only one of seventeen voting countries to turn down the bailout fund plan. Such chutzpah apparently came about when the Slovakian Prime Minister Iveta Radicova, pictured above, attached the bill to a vote of confidence in her leadership prompting one of the government's parties to walk out because PMs could not vote "no confidence" without voting down the fund, reports The Guardian. So, this vote not only adds uncertainty to the debt issue, but will now bring down the Slovakian government. Another vote on the fund could come as early as tomorrow, but not before further depressing confidence in Europe's ability to tackle the debt crisis or even confidence in a functional Eurozone altogether.

This article is from the archive of our partner The Wire.