Slovakia stalls expansion of euro rescue fundOctober 12, 2011 - 13:22 AMT PanARMENIAN.Net - The parliament of Slovakia stalled the expansion of a bailout fund to rescue the euro zone from its debt crisis on Tuesday, October 11, but international lenders said they were likely to grant a loan to Greece next month, buying time for a broader response. European Central Bank chief Jean-Claude Trichet said the debt crisis had become systemic and must be tackled decisively. Slovakia is the only country in the 17-member currency zone that has yet to approve giving new powers to the European Financial Stability Fund. The expansion was agreed by euro zone leaders in July but must be ratified by each country. The EFSF is Europe's main weapon to respond to a debt crisis that threatens the European common currency, the region's banks and potentially the global financial system. The government of Slovak Prime Minister Iveta Radicova fell on Tuesday after a small party in her ruling coalition refused to back the plans. The outgoing government still expects to be able to enact the measure as a caretaker administration by the end of this week with support from an opposition party. "There is an assumption that the EFSF, one way or the other, will be approved by the end of the week," Finance Minister Ivan Miklos told parliament ahead of the vote, Reuters reported. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | International cybercrime ringleaders arrested in Armenia, Ukraine Europol, Europe's crime agency, has arrested four ringleaders of several cybercrime networks that used botnets. Armenia skips CSTO Defense Ministers meeting A meeting of the Council of Defense Ministers of the Collective Security Treaty Organization countries began in Almaty. Armenian, Iranian foreigh policy chief talk over the phone The Foreign Minister of Armenia once again expressed condolences to his counterpart on the death of the President of Iran. Armenia, U.S. customs authorities to boost assistance with new deal The government has approved an agreement with the U.S. government on mutual assistance between the customs authorities. |