Well, the market was rallying as if the EFSF 2 was a done deal.
Let's see:
Wed the 28th: Finnish govt votes. Yes, Finland, the
country demanding collateral. Where the second largest party
in parliament is the "True Finns", opposed to any bailouts.
Thursday the 29th: Germany votes. Approval not a foregone
conclusion I am reading.
Friday the 30th: Austria votes. Unlikely to vote against
if Germany approves.
Slovakia on Oct 11. Yes, Slovakia. The junior
partner of the ruling coalition government has not yet agreed to
vote in favour. Still, the pressure will be enormous if all
other countries have approved it by then.
8 of the 17 countries have thus far approved EFSF 2. The
approval has to be unanimous.
Slovenia's govt fell recently, so I don't know how they will
even vote on it. Slovenia is one of the countries requiring
collateral.
Countries such as Slovakia and Slovakia are basically opposed
because they were told to get their finances in order to join the
EU and the euro zone, and they went through tough cuts to get
there. So they have little sympathy for Greece.
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Title: click to expand Well, the
Did Europe fart
Posted by johan on 27th of Sep 2011 at 04:29 pm
Well, the market was rallying as if the EFSF 2 was a done deal. Let's see:
Wed the 28th: Finnish govt votes. Yes, Finland, the country demanding collateral. Where the second largest party in parliament is the "True Finns", opposed to any bailouts.
Thursday the 29th: Germany votes. Approval not a foregone conclusion I am reading.
Friday the 30th: Austria votes. Unlikely to vote against if Germany approves.
Slovakia on Oct 11. Yes, Slovakia. The junior partner of the ruling coalition government has not yet agreed to vote in favour. Still, the pressure will be enormous if all other countries have approved it by then.
8 of the 17 countries have thus far approved EFSF 2. The approval has to be unanimous.
Slovenia's govt fell recently, so I don't know how they will even vote on it. Slovenia is one of the countries requiring collateral.
Countries such as Slovakia and Slovakia are basically opposed because they were told to get their finances in order to join the EU and the euro zone, and they went through tough cuts to get there. So they have little sympathy for Greece.