Slovakian EFSF Opponent Sulik: The Greatest Threat To Europe Is The Bailout Fund !

• The Eurozone is going down. France is already having major problems with the bailout of Franco-Belgian bank Dexia. France may have to fork out US$200-300B to bail Dexia out! Belgian is as good as bust. By bailing out Dexia, their debt to GDP will rocket way past 100%. The idea that the Eurozone can raise a few trillions to resolve this crisis is ludicrous. It will bankrupt both France and Germany. They know it and are taking steps to save their own banks in the coming Euro exit/collapse!
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• Malta and Slovakia, these 2 small countries need to ratify the EFSF bailout fund. They may just put a huge spanner in the works and say NO! (emphasis mine)
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  ‘The Greatest Threat to Europe Is the Bailout Fund’
  by http://www.spiegel.de/ 
  Only two countries, Malta and Slovakia, have yet to ratify the expansion of the euro bailout fund. Its fate may be in the hands of a minor Slovak party headed by Richard Sulik. In an interview, the politician explains why he hopes the fund will fail and what he sees as the only way to save the euro.
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  SPIEGEL ONLINE: Mr. Sulik, do you want to go down in European Union history as the man who destroyed the euro?
  Richard Sulik :No. Where did you get that idea?
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  SPIEGEL ONLINE: Slovakia has yet to approve the expansion of the euro backstop fund, the European Financial Stability Facility (EFSF), because your Freedom and Solidarity (SaS) party is blocking the reform. If a majority of Slovak parliamentarians don’t support the EFSF expansion, it could ultimately mean the end of the common currency.
  Sulik: The opposite is actually the case. The greatest threat to the euro is the bailout fund itself.
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  SPIEGEL ONLINE: How so?
  Sulik: It’s an attempt to use fresh debt to solve the debt crisis. That will never work. But, for me, the main issue is protecting the money of Slovak taxpayers. We’re supposed to contribute the largest share of the bailout fund measured in terms of economic strength. That’s unacceptable.
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  SPIEGEL ONLINE: That sounds almost nationalist. But, at the same time, you’ve had what might be considered an ideal European career. When you were 12, you came to Germany and attended school and university here. After the Cold War ended, you returned home to help build up your homeland. Do you care nothing about European solidarity?
  Sulik: If we now choose to follow our own path, the solidarity of the others will also crumble. And that would be for the best. Once that happens, we would finally stop with all this debt nonsense. Continuously taking on more debts hurts the euro. Every country has to help itself. That’s very easy; one just has to make it happen.
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  SPIEGEL ONLINE: Slovakia’s parliament is scheduled to vote on the bailout fund expansion on Oct. 11. How do you predict the vote will turn out?
  Sulik: It’s still open. The ruling coalition is composed of four parties. My party will vote “no”; the other three coalition parties intend to say “yes.” What the opposition says is decisive.
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  SPIEGEL ONLINE: The Social Democrats have offered your coalition partners to support the reform in return for new elections. Do you think the coalition is in danger of collapse?
  Sulik: I don’t see any reason why it would.
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  SPIEGEL ONLINE: What will you do should the EFSF reform pass despite your opposition?
  Sulik: For Slovakia, it would be best not to join the bailout fund. Our membership in the euro zone, after all, was not conditional on us becoming members of strange associations like the EFSF, which damage the currency.
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  … for the full interview click here!

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