Friday

31st Mar 2023

Slovak government hangs by a thread ahead of crucial EU vote

  • Heavy clouds of uncertainty hang over EU vote in Slovakia (Photo: stefanweihs)

Hours before the Slovak parliament votes on greater powers of the eurozone's bail-out fund, the country's Prime Minister Iveta Radicova has decided to put her job on the line over the decision.

Latest coalition talks ended without an agreement on Monday (October 10), with Radicova saying she will announce details of her political intentions to the ruling parties this morning at 9am Bratislava time.

Read and decide

Join EUobserver today

Become an expert on Europe

Get instant access to all articles — and 20 years of archives. 14-day free trial.

... or subscribe as a group

According to media reports, the Prime Minister has three options up her sleeve - each signalling the government is hanging by a thread. She could resign before the vote is held on Tuesday afternoon; she could resign should the parliament fail to approve boosting the eurozone's fund (the EFSF); and lastly, she could tie the EFSF vote to a confidence vote.

"I will decide responsibly by morning," said the Slovak leader.

It will be a tough call for the liberal party Freedom and Solidarity (SaS), which remains steadfastly opposed to raising the Slovak contribution to the temporary bail-out fund and has left itself no room for a face-saving manoeuvre.

The SaS's two conditions - veto power over any disbursement of the EFSF money and Bratislava staying out of the future European stability mechanism (ESM) - have been rejected by three remaining coalition partners.

The second condition seems particularly paradoxical as the ESM allows for an orderly default of insolvent countries. That is an approach advocated by the troublesome party.

"We cannot become Robinson [Crusoe] in the centre of Europe," Iveta Radicova said, criticizing the junior ruling party's attitude. "If we think that 16 countries took a certain decision because they have dumb governments and even dumber parliaments, if we think that we can manage the crisis on our own, I don't know how to describe it."

A bigger role for both, the government and the parliament's budget and finance committee in approving the EFSF loans is the farthest the Prime Minister was willing to go in efforts to reach a political compromise with the liberals. However, no red card would be given to an individual political party, Reuters news agency reported.

The enhanced fund needs to be approved by all 17 eurozone states before it can start offering pre-emptive credit lines to governments, buying their debt and recapitalizing banks - something high on the eurozone's agenda after Germany and France committed to do "whatever is necessary for the recapitalization of our banks."

The euro group president Jean-Claude Juncker last week ruled out granting Slovakia a derogation or opt-out in exchange for the country's positive vote.

So, if 21 liberal MPs dig in their heels despite the Prime Minister's threat to quit, the government will have to turn to the former socialist Prime Minister Robert Fico for votes. He is willing to help but only at the price of early elections or a government reshuffle.

Meanwhile, the Slovak public has begun to lean towards approving greater firepower for the eurozone rescue fund. According to a fresh opinion poll by the Polis agency, 44.8 percent of people want the plan to go through, while 32.9 percent oppose it.

The schedule

9am - the Prime Minister meets leaders of four ruling parties to inform them of her next political move

10am - the leadership of the SaS party holds an internal debate

13pm - the parliamentary session on EFSF expansion begins

Merkel, Sarkozy will do ‘whatever necessary’ to bail-out banks

Financial markets hoping for the outline of some grand strategy for dealing with the ever-worsening eurozone crisis are likely to be disappointed by the vague announcement offered up by the French president and German chancellor after emergency talks in Berlin on Sunday.

Slovak parties reach deal on EU bail-out fund

The Slovak parliament is set to approve legislation backing a strengthening of the eurozone’s €440 billion rescue fund after the centre-left opposition said it would back a fresh version of the bill in return for early election

Police violence in rural French water demos sparks protests

Protests are planned in 90 villages across France on Thursday to protest against escalating police violence that have left 200 people injured, including two people who are still in a coma, after a violent clash in Sainte-Soline over 'water privatisation'.

EU approves 2035 phaseout of polluting cars and vans

The agreement will ban the sale of carbon-emitting cars after 2035. The EU Commission will present a proposal for e-fuels after pressure from German negotiators via a delegated act, which can still be rejected by the EU Parliament.

Opinion

Dear EU, the science is clear: burning wood for energy is bad

The EU and the bioenergy industry claim trees cut for energy will regrow, eventually removing extra CO2 from the atmosphere. But regrowth is not certain, and takes time, decades or longer. In the meantime, burning wood makes climate change worse.

Opinion

EU's new critical raw materials act could be a recipe for conflict

Solar panels, wind-turbines, electric vehicle batteries and other green technologies require minerals including aluminium, cobalt and lithium — which are mined in some of the most conflict-riven nations on earth, such as the Democratic Republic of Congo, Guinea, and Kazakhstan.

Latest News

  1. EU sending anti-coup mission to Moldova in May
  2. Firms will have to reveal and close gender pay-gap
  3. Why do 83% of Albanians want to leave Albania?
  4. Police violence in rural French water demos sparks protests
  5. Work insecurity: the high cost of ultra-fast grocery deliveries
  6. The overlooked 'crimes against children' ICC arrest warrant
  7. EU approves 2035 phaseout of polluting cars and vans
  8. New measures to shield the EU against money laundering

Stakeholders' Highlights

  1. InformaConnecting Expert Industry-Leaders, Top Suppliers, and Inquiring Buyers all in one space - visit Battery Show Europe.
  2. EFBWWEFBWW and FIEC do not agree to any exemptions to mandatory prior notifications in construction
  3. Nordic Council of MinistersNordic and Baltic ways to prevent gender-based violence
  4. Nordic Council of MinistersCSW67: Economic gender equality now! Nordic ways to close the pension gap
  5. Nordic Council of MinistersCSW67: Pushing back the push-back - Nordic solutions to online gender-based violence
  6. Nordic Council of MinistersCSW67: The Nordics are ready to push for gender equality

Stakeholders' Highlights

  1. Azerbaijan Embassy9th Southern Gas Corridor Advisory Council Ministerial Meeting and 1st Green Energy Advisory Council Ministerial Meeting
  2. EFBWWEU Social Dialogue review – publication of the European Commission package and joint statement of ETUFs
  3. Oxfam InternationalPan Africa Program Progress Report 2022 - Post Covid and Beyond
  4. WWFWWF Living Planet Report
  5. Europan Patent OfficeHydrogen patents for a clean energy future: A global trend analysis of innovation along hydrogen value chains

Join EUobserver

Support quality EU news

Join us