Objections to bailouts were an issue during the Slovakian elections in June. Thus, the new center-right cabinet of Prime Minister Iveta Radičová has put the 750 million euro (USD960.7 million) European Financial Stability Facility on hold — until July 17. Unblocking the fund removed the last major obstacle to its disbursal. The decision came after Slovakia was pressured by fellow Eurozone countries to approve the facility, which is an integral part of the EU’s efforts to restore confidence it its financial markets following Greece’s debt crisis, EurActiv reports.
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About the author
Ivy Mungcal
As former senior staff writer, Ivy Mungcal contributed to several Devex publications. Her focus is on breaking news, and in particular on global aid reform and trends in the United States, Europe, the Caribbean, and the Americas. Before joining Devex in 2009, Ivy produced specialized content for U.S. and U.K.-based business websites.
