EFSF remains vulnerable

Even after the Slovakian parliament's green light, the expanded euro bailout fund still remains vulnerable, the left-liberal daily Süddeutsche Zeitung newspaper criticises: "The fund will only function if the two largest economies in the Eurozone, Germany and France, maintain their top-tier AAA credit rating. The AAA rating for Berlin and Paris guarantees the top rating for the fund as well - the prerequisite for it to function. If the top grade was lowered in one of the two countries, the entire EFSF would implode and the euro would face its end. And this is the real danger. In the midst of the biggest crisis since its founding the Eurozone is placing all its hopes in a single instrument that is fragilely constructed - and worse still could become a plaything for national interests."

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