Dutch Parliament Approves Eurozone Bailout Fund Expanding

Bulgaria in EU | October 7, 2011, Friday // 11:10|  views

One of the final hurdles when it comes to increasing the capacity of the Eurozone bailout fund has been cleared, as the parliament of the Netherlands gave the green light for expanding it on Thursday.

Expectedly, ninety-six out of a total of 150 lawmakers voted in favor of the measure. The proposed agreement calls for increasing the fund's lending capacity to EUR 440 B billion from around EUR 250 B.

The last two countries to decide on increasing the fund's firepower, Slovakia and Malta, will vote next week.

While Malta's parliament is likely to pass the bill, the approval of Slovakia remains uncertain due to sharp divisions within the government coalition, The Australian has pointed out.

All 17 eurozone nations have to sign off on the European Financial Stability Facility created in the face of the currency bloc's debt crisis, where Greece is in the eye of the storm.

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Tags: Eurozone, the Netherlands, Slovakia, Malta, European Financial Stability Facility, bailout fund, greece


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