EU urges 'swift' Slovak adoption of eurozone rescue fund

The European Union urged Slovakia today to quickly hold a new vote to expand the eurozone's debt rescue fund, a day after its parliament rejected it. "We call upon all parties in the Slovak Parliament to rise above the positioning of short term...

The European Union urged Slovakia today to quickly hold a new vote to expand the eurozone's debt rescue fund, a day after its parliament rejected it.

"We call upon all parties in the Slovak Parliament to rise above the positioning of short term politics, and seize the next occasion to ensure a swift adoption of the new agreement," EU president Herman Van Rompuy and European Commission president Jose Manuel Barroso said in a joint statement.

They said revamping the European Financial Stability Facility (EFSF) was "in the interest of all euro countries, including the Slovak people.

"We remain confident that the Slovak authorities and the Parliament are fully aware of the critical importance of an enhanced and more flexible EFSF to preserve financial stability in the euro area," they said.

"Our common currency plays a crucial role in investment decisions, in growth, in jobs. This is about the prosperity of us all."

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