Bank of America Corp (BAC)

[BigBake1]

Once again I am saying that your comprehension of how the process is "SUPPOSED" to work is correct but nothing ever works as it is "supposed" to. There has been talk that if they do not approve they will be moving forward without their approval and they are already looking into the "legal" ramifications of such a decision.

First site that pops up:

http://www.cnbc.com/id/44871469

Germany's Economy Minister said he was confident that Slovakia will approve the EFSF expansion and that he thought Slovakia was aware of its responsibility towards Europe, while Austria's Foreign Minister said the fund could start without Slovakia.

It is quite clear there is in fact talk of such a move without Slovakia's approval.