Slovakia

Sixteen is Not Enough for a Bailout Plan in Europe

With only 17 nations needed to approve the bailout plan to increase the economic conditions of Europe, the European Union is finding it difficult to cooperate. One nation that seems to not want to be a player in the non-zero sum game is Slovakia. Slovakia’s governing body is concerned about taxing their citizens for thus bailout plan. Despite the country’s concerns, other countries of the union are still pushing for the binding agreement of 17 nations to approve the bailout plan.

The European Union is in a state of panic as economic prosperity gradually decreases. The majority of the states of the union have emphasized cooperation as the greatest aspect for improving conditions in the European Union. Therefore, when a bailout fund was presented to help the continent rise from the current debt crisis, states joined together to pass the plan into effect. The only problem is that 17 nations must approve the plan in order for it to become effective, which currently, only 16 nations have approved it. These countries view this plan as changing the world for the better, because if debt increases, the entire world economy will be affected. Slovakia, a country a part of the European Union, has been sought after by other countries of the union in hopes to gain their approval of the plan. Rather than promote thus interdependence quickly, Slovakia’s governing powers are seeking for a compromise to ensure this plan will do just as it declares and that it wont cost their taxpayers anything extra. In order to improve the economic conditions of Europe, it is critical for Slovakia to effectively cooperate and quickly compromise with the other countries of the union. If Slovakia eventually agrees to the bailout plan, it is possible for a non-zero sum game for all of Europe.

Liberal

http://www.chinapost.com.tw/business/2011/10/12/319531/Slovakia-fails.htm

http://www.chinapost.com.tw/business/global-markets/2011/10/12/319557/p1/Traders-nervous.htm

October 12, 2011 at 11:54 am