Slovak lawmakers have rejected the EFSF endorsement, which is linked to a vote of confidence in the current right-of-center cabinet.
Smer-Social Democracy, or Smer, the main left-of-center opposition party, was determined to bring the government down in the linked vote. Smer, which otherwise supports the EFSF and other bailout initiatives, wants concessions from the government in exchange for its support for the fund in the repeat vote.
These concessions may include a government reshuffling and a firm timeline for holding snap elections before the current parliament term expires.
Leos Rousek reporting for Dow Jones from Bratislava says that a repeat vote to endorse the bailout fund could be held Wednesday afternoon at the earliest, a government party lawmaker told reporters.
"That's how long it would take to go through the necessary procedures, including a new debate on the EFSF bill by the government and in parliamentary committees," said Martin Poliacik, a ranking lawmaker for Freedom and Solidarity, or SaS.
Another person familiar with upcoming political talks said the repeat vote could be held no earlier than Thursday. "It all depends on further debates among main players after the confidence vote, but no repeat vote is likely [Wednesday]," the person, who declined to be named, said.
Tuesday evening the Slovak parliament was still debating whether or not to approve Slovakia's participation in the European Financial Stability Facility (EFSF) as the government coalition failed to reach an agreement to support it. The vote was delayed to give more time for more frantic negotiations to try and secure a positive vote. .
BBC reported today that after Malta approved the plans late on Monday, Slovakia is the last of the eurozone's 17 member states to vote.
Slovakia's prime minister tied the vote to a confidence vote - putting her government at risk. "I have to say that the coalition partners have failed to reach an agreement," Prime Minister Iveta Radicova said.The country's future in Europe was at stake, she said.
"It's unacceptable for a prime minister to allow the isolation of Slovakia." While three of the four parties in the government coalition back the expansion, a fourth, the liberal Freedom and Solidarity (SaS), is holding out.
The SaS has balked at Slovakia - one of the poorest countries in the eurozone - being asked to guarantee 7.7bn euros of the 440bn European Financial Stability Facility (EFSF).
It demanded a binding agreement that Slovakia would refuse to take part in the European Stabilisation Mechanism - which is meant to replace the EFSF in 2013 - and a veto over future bailout disbursements from the EFSF.